UK wants a greater say in mergers that spark national security concerns
London — On Tuesday, Britain unveiled proposals that would permit it to have a greater say in mergers and take-overs that spark national security concerns. "Today’s proposals include enabling the government to intervene in mergers that raise national security concerns, even when they involve smaller businesses," the government said in a statement. "These changes are targeted at key areas, specifically companies that design or manufacture military and dual-use products, and parts of the advanced technology sector." The government is currently only permitted to intervene in mergers involving companies with a British turnover of more than £70m ($93m, ¤79m), or where the British share of supply hits 25% or more. Tuesday’s plans will lower the threshold to a UK turnover of less than £1m, and remove the 25% requirement entirely. "Today’s proposals will close these loopholes to enable greater scrutiny of foreign investment in a changing market," the government noted. Business and energy se...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.