AstraZeneca chairman Leif Johansson has told ITV News he believes a potential takeover deal with Pfizer is "at the end of the road" after a number of issues remained unresolved.
He said Pfizer were told that they would have to raise last week's bid by at least 10% for it to be recommended to shareholders, "assuming other aspects of the deal" could be resolved.
"Neither of the two happened so that's where I think we are at the end of the road," he said.
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.