US drugs giant Pfizer said it has made a final and improved takeover approach worth £69 billion for UK rival AstraZeneca.
Pfizer added that it will not make a hostile offer direct to AstraZeneca shareholders, instead urging them to press the company's board to begin substantive engagement over a deal.
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.