Pfizer's boss Ian Read is appearing at a business select committee on the US company's proposed takeover of AstraZeneca. ITV News Business Editor Joel Hills has tweeted:
Pfizer commitments to Britain last for 5 years. Ian Read says he would not be prepared to extend them, already "unprecedented".
Pfizer boss says Takeover Panel has power to take it to High Court if breaks pledges to UK. Although he can't think of precedent.
This morning Pfizer has "gone hostile", not with a renewed bid but with an appeal made directly to the shareholders of AstraZeneca.
MPs on the business committee are sceptical that AstraZeneca would remain committed to Britain if taken over by US giant Pfizer.