Business Editor for ITV News Joel Hills stated the following objections the AstraZeneca board made, regarding the improved takeover offer from the US pharmaceutical company Pfizer:
AstraZeneca's objections as follows 1) price 2) not enough cash vs shares 3) tax proposals (headquarters in US but tax base in UK)
Pfizer has until Monday until it admits defeat in bidding for AstraZeneca. But after the shenanigans of the past few days we cannot be sure.
AstraZeneca's share price is tumbling back down to earth after the board rejected a "final" Pfizer bid. So is the takeover really over?
Sweden's Finance Minister says the Government should be "very, very sceptical" about any promises the US pharmaceutical giant makes.