Number 10 'denies cheerleading' AstraZeneca bid

Downing Street has reportedly denied Labour leader Ed Miliband's claim the Government is "cheerleading" the takeover bid for British firm AstraZeneca by the US drugs company Pfizer.

According to the editor of Politics Home, Paul Waugh:

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No.10 spksman re Pfizer "The Govt isn't cheerleading for Pfizer, it's fighting for British job and British science."

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No.10 adds: "Miliband is putting politics before the national interest in undermining that position". No.10 sources: Govt 'neutral' on deal

Read: Miliband hits out at 'cheerleading' Government

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Pfizer admits defeat on AstraZeneca bid

US pharmaceuticals giant Pfizer has called off its multi-billion pound bid to take over British-Swedish firm AstraZeneca. The decision came after AstraZeneca's board declined an offer worth almost £70bn.