Labour leader Ed Miliband has expressed his "concerns" about US drugs company Pfizer's takeover bid for British firm AstraZeneca and has accused the Government of "cheerleading" the deal.
In a letter to the Prime Minister, Mr Miliband wrote: "In this particular bid the stakes could not be much higher. Pfizer’s bid for AstraZeneca affects one of the UK’s most significant investors in R&D, a major contributor to our science base, and 6,700 high quality jobs in the UK.
"Despite those high stakes, the impression created in recent days has been of a Government cheerleading for this deal on the basis of a short letter with inadequate assurances."
"We need a more substantive assessment of whether this takeover is in the national economic interest before the UK government allows itself to be seen to be supporting it," he added.
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.