I reported over the week-end that there was a growing concern amongst govt and opposition parties that the Pfizer takeover may not be in the national interest.
News out on Reuters a short while ago now says that the UK lower House ( Commons) Science Committee wants to speak to both company’s bosses next week saying they want a lot more info on the impact on the UK science base.
It’s difficult to judge whether this development has slowed down any GBPUSD move this morning given its rampant climb combined with periods of stalling, but the story should be closely followed given the ultimate impact if the deal does eventually go ahead.
Initially we saw a good amount of GBPUSD buying but saw some sell-off into the NFPs when Astrazenenca rejected the improved offer. This one could run and run.
The BBC has this
Update:
The UK govt has just said it makes ” no apology” for getting involved in the potential takeover on issues of jobs and skills base
- PM Cameron’s spokesman says they will continue to engage with both companies over jobs and R&D, but any potential deal is commercial decision for firms
- says it is “significant” that Pfizer as chosen to engage with UK over potential takeover deal
