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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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AstraZeneca: 'no prospect' of deal before deadline

Pfizer and AstraZeneca packaging. Credit: PA Images

AstraZeneca Chairman Leif Johansson has said he now saw no prospect of a deal with Pfizer before a deadline of 26 May set under British takeover rules, or any likelihood of that deadline being extended, Reuters have reported.

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