Pfizer & Ian C. Read's Looming AZ "Waterloo": Why A Deeply Autocratic Man Should NOT Be Surrounded By Corps Of Sycophants. . .

It would seem that Mr. Read was told (by his "people") that the whole world would cheer his putative bit of record-breaking capitalist ledger-domain. Not so much, it seems. According to the latest opinion polls in London, only 9 per cent of the UK public want to see his transaction cleared by the government. Nope. Not at this paltry price.

And his "expiration date" -- to formally declare, under the UK anti-abusive corporate takeover rules -- is fast approaching. It falls two weeks from tomorrow, in England. Buckle-up folks, and pop the popcorn!

Via LiveMint, and the WSJ, a few hours ago, then:

. . . .Given its record of big job cuts after past acquisitions, [Pfizer] has come under fire in Britain, the US and Sweden as it weighs its next move to buy AstraZeneca, which could be a sweetened offer next week.

Chief executive Ian Read, who is due to appear before two panels of British lawmakers on 13 and 14 May, said in a video that the $106 billion deal was a “win-win” for shareholders and society, and merging the two firms’ research would be “easy”.

The suggested deal would be the largest foreign takeover of a UK company and has provoked a political storm in Britain, with the government seeking firm job guarantees. . . .

The furore in Britain is Read’s top priority ahead of his expected grilling by British lawmakers at separate parliamentary committee hearings next week. Read did not make any fresh pledges on British jobs in his latest comments, which were posted on the US company’s website. . . .

Keep in mind that -- under the applicable so-called "put up, or shut up" British rules, Mr. Read must either formally abandon his bid, or make it a binding firm offer, without additional delays -- on or before close of business in London, on May 26, 2014. After analyzing his latest financial disclosures (via a deep dive into financial -- hedging and tax -- details) filed in his latest SEC Form 10-Q, we can see why he rather desperately needs this deal. More on that, some other day.