Comment: Double-guessing the OFT on Chubb
Tuesday 18 February 1997
There is obvious potential for difficulty here, for when Williams last bid for Chubb - when it was part of Racal six years ago - undertakings were required that it would sell Chubb's entire UK locks, safes and research business within 15 months. Williams is confident that this time round it will escape largely unscathed; since 1991 there has been greater import penetration and in any case, Williams argues, it is generally accepted that the market definition should be much wider than it was then. The 50 per cent share of the UK locks market that the two combined would have had in 1991 is, as a consequence, considerably lower.
Is the OFT going to buy it? If it doesn't, and Williams is again required to sell off all or part of the UK business, it makes the already toppy price it is paying for Chubb look even fuller. Williams can protest vainly about being mainly interested in Chubb's Far Eastern interests, but surely monopoly value in Britain is a large part of the motive for this deal? If not, why is the normally canny Sir Nigel Rudd paying so much?
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Exclusive: Impact of immigrants on British workers ‘negligible’
Katie Hopkins continues campaign to become Britain's most hated talking head with poorly timed Bob Crow tweet
Ukraine crisis: Russia pledges to 'retaliate against sanctions' as Ukrainian president says Crimea vote will not be recognised
The quiet diplomat: Catherine Ashton - recognised and admired in all the world’s troubled countries, yet ridiculed at home
Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
- 1 Bad cattitude: Family call police after crazed and 'hostile cat with a history of violence' attacks baby before attempting to 'flee custody'
- 2 Family forced to flee home after discovering 'terrifying' nest of spiders in bananas
- 3 First Kiss: Filmmaker gets 20 strangers to make out on YouTube with awkward results
- 4 Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
- 5 Bob Crow death: 'Admired by his members, feared by employers' - Tributes pour in for RMT union leader and 'working class hero' Bob Crow
iJobs Money & Business
£1000 per month: Inspiring Interns: The company works with Tier 1 FTSE 100 Ban...
£35000 - £60000 per annum + Bonus + Benefits: Pro-Recruitment Group: You must ...
£60000 - £80000 per annum + BONUS + BENEFITS: Harrington Starr: A top, City ba...
VOLUNTARY ONLY - EXPENSES REIMBURSED : Reach Volunteering: Fantastic opportuni...