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| MPs to probe Pfizer bid for AstraZeneca | |
| (35 minutes later) | |
| The Business Select Committee is to probe the planned takeover of AstraZeneca by Pfizer. | The Business Select Committee is to probe the planned takeover of AstraZeneca by Pfizer. |
| The committee will summon the bosses of both companies to answer questions at the hearing. | The committee will summon the bosses of both companies to answer questions at the hearing. |
| The hearing is likely to happen "quite soon" and possibly within the next week, the BBC has learned. | The hearing is likely to happen "quite soon" and possibly within the next week, the BBC has learned. |
| The science and technology committee is also planning a hearing over the deal and wants to hear from bosses. | The science and technology committee is also planning a hearing over the deal and wants to hear from bosses. |
| Science and technology committee chair Andrew Miller said that there was "serious concern - to say the least" about the proposed takeover. | Science and technology committee chair Andrew Miller said that there was "serious concern - to say the least" about the proposed takeover. |
| Mr Miller confirmed he would be urging his committee to call senior executives from both companies. | Mr Miller confirmed he would be urging his committee to call senior executives from both companies. |
| AstraZeneca has rejected two multi-billion dollar offers from Pfizer. | AstraZeneca has rejected two multi-billion dollar offers from Pfizer. |
| Last week Pfizer made an offer which valued AstraZeneca at £63bn, a rise on its initial offer of almost £59bn. | |
| AstraZeneca's management team is holding a presentation for investors and analysts on Tuesday to promote its own achievements and to demonstrate the firm's "excellent growth prospects". | |
| In a shareholder update on Tuesday it forecast annual revenues of greater than $45bn (£26.6bn) by 2023. The company had revenues of $25.7bn in 2013. |