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UK Government says Pfizer's AstraZeneca bid a decision for shareholders

Published 02/05/2014, 08:42
Updated 02/05/2014, 08:48
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LONDON (Reuters) - The British government said it had pressed U.S. company Pfizer (N:PFE) to commit to British jobs and research in its bid for AstraZeneca (L:AZN), but the decision on whether the British group will be sold was a matter for its shareholders.

"This is ultimately going to be a decision for AstraZeneca shareholders," the Minister for Universities and Science David Willetts told BBC Radio on Friday.

"We are pressing Pfizer in a very hard-nosed way. Their letter has a set of proposals for research and development and manufacturing in the UK that have moved a long way from where they were a week ago."

The U.S. company sent a letter to Prime Minister David Cameron laying out a series of commitments to Britain on Friday, when it also raised its offer for Britain's second biggest pharmaceutical company.

(Reporting by Paul Sandle; editing by Sarah Young)

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