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.
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.