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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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Astra chair: Deal appears to be at 'end of the road'

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.

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