Vince Cable: Government 'neutral' on Pfizer deal

Business Secretary Vince Cable has said the Government will show "even-handed neutrality" over Pfizer's bid for British-Swedish pharmaceutical firm AstraZeneca.

Answering questions in the House of Commons, Dr Cable said: "The Government must and will approach it from the position of even-handed neutrality and recognise that this is ultimately a matter for the shareholders of both companies."

Business Secretary Vince Cable addresses MPs in the House of Commons.
Business Secretary Vince Cable addresses MPs in the House of Commons. Credit: Pool

He also sought to reassure MPs about the impact of any possible takeover on jobs, saying: "I and my colleagues across Government engaged early with both companies to make sure the outcome is positive for the UK."

Advertisement

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.