📈 Fed's first cut since 2020: Time to buy the dip? See Tech-focused stock picksUnlock AI Picks

Second MP panel to call Pfizer, AstraZeneca over bid

Published 06/05/2014, 12:18
Updated 06/05/2014, 12:33
AZN
-
PFE
-

LONDON (Reuters) - Senior management from U.S. drugmaker Pfizer (N:PFE) and British pharmaceutical firm AstraZeneca (L:AZN) will be called before a British parliamentary committee to answer questions on a potential takeover deal, the committee chairman said on Tuesday.

AstraZeneca on Friday rejected a 63 billion-pound ($106.26 billion) bid from Pfizer, but the U.S. firm is expected to pursue its efforts to acquire Britain's second-largest pharmaceutical company.

"Are we certain that the national interest has been properly protected?" Andrew Miller, chairman of the British Parliament's Science and Technology Committee, told Reuters.

"It is up to them who they field as long as they field people who have got the authority to answer questions," Miller said, adding that the best solution would be to see the chief executives in front of his committee.

Miller, a lawmaker from the opposition Labour party, said the panel has no power to block the bid but that he wants "a lot more information" on the impact on Britain's science base and intellectual property from any potential takeover.

The British parliament's Business, Innovation and Skills Committee will also call representatives from the two companies, a spokesman said.

(Reporting by Guy Faulconbridge; editing by William Schomberg)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.