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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.

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Osborne: Securing British jobs 'sole interest' in Pfizer bid

Chancellor George Osborne has said securing British jobs is the Government's "sole interest" in dealing with the bid for pharmaceuticals company AstraZeneca.

The Chancellor has been clear the Government will back 'any arrangement' that keeps good jobs in the UK. Credit: JESSICA GOW / TT/TT News Agency/Press Association Images

US giant Pfizer is looking at a hostile bid for the firm after its £63 billion takeover bid was rejected last week.

Mr Osborne said: "Our sole interest here is in securing good jobs in Britain, good manufacturing jobs, good science jobs. That's what I'm interested in. And we'll support any arrangement that delivers that for Britain."

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