Pfizer admits defeat on AstraZeneca bid

US pharmaceuticals giant Pfizer has called off its multi-billion pound bid to take over British-Swedish firm AstraZeneca. The decision came after AstraZeneca's board declined an offer worth almost £70bn.

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Cameron 'neutral' after AstraZeneca rejects Pfizer bid

Prime Minister David Cameron has said the Government will continue to talk in a "neutral" role to both Pfizer and AstraZeneca regarding a takeover after the US drug firm saw an increased offer rejected by the British manufacturer.

This is a matter for the companies to resolve themselves. The government quite rightly should be neutral in this.

What we should do though is always be engaged with both companies - as we have been - to try and make sure that whatever the outcome, British science, British job, British manufacturing, that they get a proper and deserved attention.

– David Cameron, speaking to the BBC

AXA shareholder 'very disappointed' by Astra board

One of the major shareholders in AstraZeneca has criticised the board following its rejection of Pfizer's "final" £69 billion takeover bid.

ITV News Business Editor Joel Hills reports:


Labour welcomes AstraZeneca's rejection of Pfizer bid

Labour has welcomed the AstraZeneca board's rejection of an apparently final £69 billion bid by US drug firm Pfizer, while continuing its criticism of the Government for "cheerleading" the attempted takeover bid.

Shadow business secretary Chuka Umunna said:

Ultimately it is for the shareholders to determine, but it is welcome the AstraZeneca board has remained resolute and sought to act in the best long-term interests of the company and its vital work in developing new life-saving drugs.

Pfizer has said today that it will not seek to launch a hostile bid and must not renege on this promise.

Where David Cameron and his government have failed to act, the next Labour government will act to introduce a strengthened public interest test to better protect Britain's science base.

Astra chairman believes rejected Pfizer bid is final

AstraZeneca chairman Leif Johansson has said he believes Pfizer's £69 billion takeover bid is their final offer.

"They say it is their final bid so I have to believe them," he told BBC Radio 4's Today programme.

AstraZeneca has urged its shareholders to reject the offer.

Mr Johansson said the Pfizer bidding had been "controversial from the start" but it was up to shareholders to decide on its fate.

He said the Pfizer offer was "too low", would prove "too disruptive" to Astra's ability to deliver drugs to the market and presented too much of a "risk".


AstraZeneca appears to set bid price at £58-a-share

AstraZeneca has suggested it would have welcomed a bid of £58-a-share after rejecting the offer of £55-a-share by US drug firm Pfizer, ITV News Business Editor Joel Hills reports:

Pfizer bid leaves 'uncertainty and risks' for shareholders

AstraZeneca has said it has rejected US drug firm Pfizer's £69 billion takeover offer because it "falls short" of the company's value and leaves "uncertainty and risks" for its shareholders.

ITV News Business Editor Joel Hills reports:

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