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Monday, 19 May 2014

A take over is "not in the public interest".

Pfizer raises stakes with final AstraZeneca takeover approach


Ian Read, Pfizer chief executive

To quote from a Blog I posted( on Thursday 15th May,
I saw the "questioning" session of the Pfizer CEO and Financial director by the Commons select committee on television and conclude that their "testimony" was evasive, misleading and vague at best. It was evident to me at least, that Pfizer have no intention of honouring any commitments they make now in respect of employment or continuing operations in this country. Their track record in European take over deals is one of deception to secure the deal, followed by ruthless asset stripping and callous indifference in the dismissal of hundreds of workers in the businesses acquired. Liquidise the assets, then take the money and run, seems to be the order of the day for this giant, which unsurprisingly is not uncommon for many American companies when it comes to the take over of British or other European companies.

The determination of Pfizer to acquire AstraZeneca, with all the resulting threats to the AstraZeneca workforce, the NHS and this country, is clearly evidenced by the latest and (so they say) final bid at £55 a share (valuing AstraZeneca at around £69bn).

Investors were a little tentative

It is obvious that Pfizer are being less than candid in their dealings with AstraZeneca and the Commons Select Committee. The British government should block this attempted grabbing of another UK industry by an American multi national and the shareholders of AstraZeneca should give a resound NO to rebuff this squalid take over attempt from a nasty corporate parasite.

For further reading see also: