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Showing posts with the label Take over bids

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

http://www.theguardian.com/business/2014/may/18/pfizer-lay-out-final-astrazeneca-takeover-proposal Pfizer raises stakes with final AstraZeneca takeover approach   Ian Read, Pfizer chief executive   To quote from a Blog I posted( http://new-agenda2012.blogspot.co.uk/2014/05/pfizer-astrazeneca-and-tweet-from.html) 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 t...

Pfizer executives cashed in shares weeks before bid for AstraZeneca and made millions

  http://www.theguardian.com/business/2014/may/16/pfizer-executives-cashed-in-shares-bid-astrazeneca Pfizer executives cashed in shares weeks before bid for AstraZeneca Ian Read, Pfizer chief executive Loretta Cangialosi Frank D'Amelio Mikael Dolsten In this Blog, under the entry, "http://new-agenda2012.blogspot.co.uk/2014/05/pfizer-astrazeneca-and-tweet-from.html", (New Agenda, 15th May 2014) I cast some doubt on the motivations and ethics of Pfizer in their dealings with the Commons select committee and their proposed takeover of AstraZeneca. Today, 17th May 2014, the Guardian publishes this story of how Pfizer Executives, Ian Read, chief executive sold $10.6m in shares on 26 February, Frank D'Amelio, chief financial officer, sold $8.9m of stock on the same day and other Pfizer executives offloading shares included Loretta Cangialosi, the firm's principal accounting officer and controller, who sold $3.1m in shares on 3...

Pfizer, AstraZeneca, and a "Tweet" from Austin Mitchell

  http://www.theguardian.com/politics/2014/may/14/labour-mp-refuses-apologise-pfizer-rapists  Labour MP refuses to apologise for calling Pfizer 'rapists'   Austin Mitchell wrote on Twitter: 'Cameron dare not stop Pfizer because he dare not offend the US in any way. Roll up rapists.' One definition rapist is " an act of plunder, violent seizure, or abuse; despoliation ". 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 th...