Takeovers

(asked on 24th April 2020) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what recent discussions he has had with Cabinet colleagues on the effect of the covid-19 pandemic on the potential for hostile takeovers of UK companies.


Answered by
Paul Scully Portrait
Paul Scully
This question was answered on 4th May 2020

Under the Enterprise Act 2002, the Government may intervene in certain takeovers for three public interest reasons – national security, media plurality and financial stability.

In December 2019, the Queen’s Speech lobby pack confirmed the Government’s intention to legislate to “strengthen the Government’s existing powers to scrutinise and intervene in business transactions to protect national security”.

The Government continues to monitor the market closely during the Covid-19 pandemic.

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