Business Secretary Vince Cable has said he and the rest of the Government are "keeping our options open" after AstraZeneca's board rejected Pfizer's increased and apparently final offer of £69 billion.
Asked about the board's decision, Mr Cable said:
I'm not telling them what to do, they have clearly come to a firm view on the offer that has been put to them.
We will stay, as a Government, very firmly in a position of keeping our options open.
We have a clear view of the national interest in protecting research and development, jobs and manufacturing here, and we have sent out that message loud and clear.