GKN: Proposed Takeover by Melrose
Debate between Graham Stringer and Bob Seely(6 years, 9 months ago)
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Mr Bob Seely (Isle of Wight) (Con)
Does the hon. Gentleman agree that in many cases Melrose aims to own businesses for only between three and five years, and during that time seeks to maximise shareholder value, selling on the parts of those businesses that it sees as underperforming, sometimes without regard to the long-term benefit of the business and its individual plants? Therefore, a takeover by Melrose may mean a break-up of GKN. Does he share my concerns and those of others like me, who are fearful for the GKN plants in their constituencies? There is one in the Isle of Wight.
Graham Stringer (in the Chair)
Order. I would remind Members that interventions should be brief.