AstraZeneca says Pfizer bid has undervalued company

ITV News Business Editor Joel Hills reports:

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AstraZeneca says Pfizer "strongly undervalues" it + not enough cash on offer. "Shareholders strongly advised to take no action"

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Pfizer confirms it made contact with British government about intentions for AstraZeneca this morning.

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US drugs giant Pfizer reveals AstraZeneca bid

US drugs giant Pfizer has confirmed details of a multi-billion pound takeover approach for the UK's AstraZeneca.