Former City minister Lord Myners has criticised the Prime Minister for "cheerleading" Pfizer's potential takeover of AstraZeneca.
In an interview with Business Editor Joel Hills on his plans to overhaul the structure of the Co-operative Group, Lord Myners said:
"Pfizer has a reputation and a record for acquiring companies, slashing costs and reducing investment in research and development. (...)
"I think Mr Cameron was very ill-advised to get drawn in to becoming a cheerleader for this bid, what he should have done was refer it to the competition authority".
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.