ITV News Business Editor Joel Hills has interviewed former director-general of the Confederation of British Industry on Pfizer's rejected bid for British firm AstraZeneca.
Sir Richard Lambert, former DG of CBI, tells me Pfizer bid is "a matter for grave public concern."
Sir Richard warns that “commitments made at a time of takeover bids are sometimes broken”. Pfizer’s need to be made binding.
Richard Lambert says the work AstraZeneca does is “one of the two or three things Britain does that we’re best in the world at”.
Sir Richard added that the Kraft takeover of Cadbury is proof that promises get broken and the AstraZeneca bid is "an order of magnitude more important". He added that foreign owned companies "close branches that aren't in the homeland".
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.