Why Pfizer (PFE) Stock Is Down Today

NEW YORK (TheStreet) -- Pfizer  (PFE) continued to dip Wednesday after British Prime Minister David Cameron told the U.S. pharmaceutical giant it must provide stronger guarantees it would keep jobs and investment in the U.K. in order to acquire the British government's support to take over AstraZeneca  (AZN).

Late last week, AstraZeneca rejected Pfizer's third takeover bid of $106 billion. Such an acquisition would be the largest takeover of a British firm in history. But Cameron hinted Wednesday the British government could intervene in the purchase should it happen.

The stock was down 1.7% to $28.93 at 3:08 p.m.
PFE Chart

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