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Sunday Papers: Pfizer ready with £50-plus bid after AstraZeneca snub

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Sunday Papers: Pfizer ready with £50-plus bid after AstraZeneca snub

Top stories

  • Mail on Sunday: American pharmaceutical giant Pfizer is understood to be working on an enhanced bid for AstraZeneca after its second offer for the company was rejected after just four hours on Friday.
  • The Observer (Editorial): This Pfizer takeover would be a real threat to British sovereignty.
  • The Sunday Telegraph (Comment): Pfizer's £63 billion bid for AstraZeneca exemplifies how US companies are keen to cash in on our favourable corporate taxation regime.
  • The Independent on Sunday: The row over Pfizer’s £63 billion takeover bid for the British drugs company AstraZeneca intensified last night as the predator’s own former top scientist railed against the way the US firm’s takeovers destroy research teams and stop the creation of new medicines.
  • Mail on Sunday: Sainsbury's will plunge into the supermarket price war this week when it unveils annual results amid City fears that discounting will wipe billions of pounds off retailers’ profits in the coming year.
  • The Sunday Telegraph: Warren Buffett calls for greater punishment for Wall Street rulebreakers; billionaire investor says authorities should come down harder on individuals rather than the companies that employ them.

Business and economics

  • The Sunday Telegraph: Wonga warns on payday loan regulation; finance company says too many rules could stifle competition and investment in submission to regulator.
  • Mail on Sunday: The Clydesdale and Yorkshire Banks, owned by National Australia Bank, are axing 28 of their 320 branches over the next six months; among the closures is the Clydesdale branch in Alford.
  • Mail on Sunday: Marks & Spencer faces potential strike action at its Irish business after proposed pay and pension cuts were rejected by staff.
  • Mail on Sunday: Wembley Stadium owners reported a £7.2 million loss in 2013 as building costs continued to weigh on its fortunes.
  • Mail on Sunday: Sir Donald Cruickshank, the former London Stock Exchange chairman, is expected to be appointed chairman of music business 7digital, which is set to float next month.
  • Mail on Sunday: The founder of upmarket shirt retailer Charles Tyrwhitt has seen his share of the company’s profit double to £10.6 million after sales soared.
  • The Sunday Telegraph: Travelex explores peer-to-peer currency trading; foreign exchange company could allow trading between individuals.
  • The Observer: Two-thirds of the growing number of self-employed workers are failing to pay anything into a pension policy, leaving themselves at risk of financial insecurity later in life, a report will warn this week.

Share tips, comment and bids

  • Mail on Sunday (Midas share tip): Take a punt in military training firm Pennant International.
  • Mail on Sunday (Midas share tip): Shares in Central Asia Metals have almost doubled to 175p since Midas tipped the company in July 2012; investors should sell half their stock to bank some profit but keep the rest.
  • Mail on Sunday: The Kuwaiti sovereign wealth fund has lined up alongside the Church of England as a surprise backer of Williams & Glyn - the bank whose founders funded the Victorian railways - which is being revived by Royal Bank of Scotland.
  • The Observer: The beleaguered Co-operative Group has insisted that it wants a single major corporate buyer for its portfolio of British farms, and will not consider community buyouts.
  • The Sunday Telegraph: Hunter, the British wellington boot maker whose footwear is worn by the Queen, has found a home in Regent Street after striking a deal with the Crown Estate to open its first flagship store.
  • The Sunday Telegraph: Unipart Automotive reaches deal in bid to return to profitability; car parts supplier born out of British Leyland completes fresh equity fundraising that will allow it to come back from years of losses.
  • Mail on Sunday (Comment): In the wake of last week’s damning report on mismanagement at the Co-op Bank, it is no surprise that many current account customers are jumping ship.
  • Mail on Sunday (Comment): Should another offer emerge, and the City reckons it will, will AstraZeneca’s board follow the usual path and start talking ruefully about its ‘fiduciary duty’ to shareholders – code for ‘it’s all about the money’?
  • The Observer (Comment): George Osborne believes that he inherited a stagnant economy and breathed life into it. Rather the opposite is the truth.
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