Pfizer's have a "poor track record" when it comes to takeovers, which have been "nothing short of sophisticated asset stripping" before they registered their interest in AstraZeneca, one of Britain's leading trade unions said.
National Officer for GMB, Allan Black, was highly sceptical about US drug giant Pfizer's promise not to cut jobs if it took over Britain-based AstraZeneca.
"Pfizer have written a letter to the Prime Minister, David Cameron, which is a little like swiss cheese - i.e. it is full of holes. There is an escape clause which says, 'we are giving you these assurances Prime Minister, unless circumstances change'."
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.