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GMB Meet Vince Cable On Astra Zeneca

Monday, May 12, 2014

GMB And Unite To Meet Vince Cable Secretary Of State For Business Innovation And Skills At 1.30pm Today Over Pfizer Bid For Astra Zeneca

Unions will be asking the Secretary of State to use the powers we believe he has to stop the acquisition of Astra Zeneca by Pfizer says GMB.

GMB, the union for workers at Astra Zeneca, with Unite is to meet Vince Cable, Secretary of State for Business Innovation and Skills at his office at 1.30pm today 12 May to discuss with him the bid by Pfizer for Astra Zeneca.

GMB and Unite will be giving evidence to the House of Commons Business, Innovation and Skills Committee on Pfizer's proposed takeover of AstraZeneca on Tuesday 13 May.

The Committee will be hearing from trade unions, together with the Chairman and Chief Executive of Pfizer Inc. and AstraZeneca plc. See notes to editors I for copy of the BIS announcement.

After the BIS Committee hearing the GMB and Unite officers with shop stewards will be meeting Chuka Umunna, Labour shadow Secretary of State for Business Innovation and Skills in the House of Commons.

Allan Black, GMB National Officer, said “GMB will be asking the Secretary of State to use the powers we believe he has to stop the acquisition of Astra Zeneca by Pfizer.

We will ask why the powers given to the Secretary of State under the 1975 Industry Act to stop takeovers such as this are not being deployed or spoken about. See notes to editors 2 for text of 1975 Act.

GMB and Unite will tell him that assurances given by Pfizer in the letter to the Prime Minister on 2nd May are worthless.

If this takeover is allowed it will be a serious blow to the UK’s science economy.”

End

Contact: Allan Black 07725 100316 or Eddie Parker 07740 804046 or GMB press office 07921 289880

Notes to editors

1 Business, Innovation and Skills Committee

Select Committee Announcement No.57- 7 May, 2014

EVIDENCE SESSION ON THE FUTURE OF ASTRAZENECA

The Business, Innovation and Skills Committee will be taking evidence on Pfizer's proposed takeover of AstraZeneca on Tuesday 13 May. The Committee will be hearing from trade unions, together with the Chairman and Chief Executive of Pfizer Inc. and AstraZeneca plc.

Tuesday 13 May 2014

Committee Room tbc[1]

Witnesses:

At 9.30am:

* Tony Burke, Assistant General Secretary, Unite

* Allan Black, National Officer, GMB

At 10.00am:

* Ian Read, Chairman and Chief Executive, Pfizer Inc. (lead witness)

At 11.15am:

* Pascal Soriot, Chief Executive Officer, AstraZeneca PLC (lead witness)

The session will be open to the public on a first come, first served basis. There is no system for the prior reservation of seats in Committee Rooms. It is advisable to allow about 20 minutes to pass through security checks. Committee Rooms and timings are subject to change.

FURTHER INFORMATION:

2 Text of 1975 Industry Act

11 General extent of powers in relation to control of important manufacturing undertakings.

(1)The powers conferred by this Part of this Act shall have effect in relation to changes of control of important manufacturing undertakings.

(2)In this Part of this Act—

“important manufacturing undertaking” means an undertaking which, in so far as it is carried on in the United Kingdom, is wholly or mainly engaged in manufacturing industry and appears to the Secretary of State to be of special importance to the United Kingdom or to any substantial part of the United Kingdom.

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