GKN: Proposed Takeover by Melrose Debate
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Wayne David
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GKN: Proposed Takeover by Melrose
Wayne David Excerpts(6 years, 7 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Greg Clark
The hon. Gentleman is aware of the regime under which we operate. I hope that he agrees that it is right, before the shareholders make their final decision, to encourage the company to set out more clearly than it has done its future intentions, not only so that that information is known, but so that, where it makes commitments, were it to succeed, it can be held legally to account for those.
Wayne David (Caerphilly) (Lab)
The Secretary of State specifically referred in his statement to the importance of the defence sector. However, the reply from Melrose to him, which I have looked at, states in one short sentence that it
“will execute a deed of undertaking in favour of the Ministry of Defence”.
One legal point of view is that that is a weak legal basis to base that on. Will he or the Secretary of State for Defence come to the Chamber at an appropriate time to give their response to that letter and indicate whether they intend to take action under the Enterprise Act 2002?
Greg Clark
When I receive the appropriate advice and make a decision as to whether an intervention is required, I will of course inform the House.