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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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Pfizer deal 'clearly controversial', says Astra chair

The chairman of AstraZeneca has said the "tax-effective" structure of the proposed deal with Pfizer would have made it a "controversial" deal.

"It was possibly within the rules - we think so - but it was clearly a controversial deal," he told ITV News Business Editor Joel Hills.

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