Question to the Department for Business, Innovation, Science and Trade:

To ask the Secretary of State for Business and Trade, whether the Government is taking steps to protect the interests of retail shareholders in situations where a majority shareholder exercises its voting rights in relation to a competing takeover offer.

The Takeover Code, which has a statutory basis under the Companies Act 2006, sets out a clear and orderly framework for takeovers, including measures to ensure fairness to all shareholders. The Code is issued and administered by the independent Panel on Takeovers and Mergers. The Panel has enforcement powers for breaches of the Code. Changes to the Code itself would be a matter for the Panel.