The UK’s opposition leader yesterday weighed into the storm over Pfizer’s bid for AstraZeneca, accusing prime minister David Cameron of acting like a “cheerleader” for the US pharmaceuticals group.
Labour leader Ed Miliband said Britain needed to introduce a stronger “public interest test” for foreign takeovers of strategically important companies.
His intervention came as Pfizer considered its next move after AstraZeneca rebuffed an improved £63bn approach on Friday. Several analysts and investors said they expected Pfizer to return with a further sweetened proposal before the May 26 deadline to make a firm bid under UK takeover rules.
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