AstraZeneca (Pfizer Bid) Debate

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Jeremy Lefroy

Main Page: Jeremy Lefroy (Conservative - Stafford)
Tuesday 6th May 2014

(10 years, 6 months ago)

Commons Chamber
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Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.

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Vince Cable Portrait Vince Cable
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As I have said many times before, we are primarily concerned about the need to protect jobs, investment and the life sciences sector, and we will do everything we can to make sure that happens, within the constraints under which I operate. We are well aware of the history of that company, but not only of that company.

Jeremy Lefroy Portrait Jeremy Lefroy (Stafford) (Con)
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The public interest in the potential AstraZeneca takeover is rightly being looked at by my right hon. Friend, as one of the parties is a UK entity. Will the Government take a similar interest in the potential takeover of a multinational such as Alstom, which has substantial operations of vital public interest in the UK, but neither the bidder nor the multinational target is based in the UK?

Vince Cable Portrait Vince Cable
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I have asked about the potential implications of the General Electric takeover for Alstom in the west midlands and—as far as we can establish—it has no negative implications. The GE-Alstom takeover is an interesting example. My French opposite number took strong exception to it, but has accepted that in reality the French Government had no alternative but to go along with it.