Labour plans bid overhaul
Friday 10 May 1996
A draft document on competition policy says Labour recognises the present framework for investigating takeovers causes special problems for a bidder under investigation.
It concludes that: "In a fast changing market, it may be necessary for new rules to be put into place in order to ensure that the bidding company has some protection during the interim period in order to eliminate the unfair advantage gained by other prospective bidders who may not be under investigation by the competition authorities."
The Government has normally allowed rival bidders free rein to make takeover offers during an inquiry, unless their bids also raise competition questions and merit a separate referral to the Monopolies and Mergers Commission.
There have only been occasional exceptions, such as when GEC and British Aerospace bid for VSEL. Both bids were referred to the Monopolies and Mergers Commission, even though only one reference was justified on competition grounds. Labour's proposal appears to put an automatic block on all bids if one is referred.
Labour's competition proposals, which have to be approved by the party's senior policymakers before they can appear in an election manifesto, also include a change in the burden of proof during merger investigations.
Industry View, page 22
- 1 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 2 The awkward moment Sarah Palin raised $25,000 for Hillary Clinton's election campaign
- 3 Ball pool for adults opens in London
- 4 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
- 5 Baldness could soon be treated using stem cells, scientists hope
Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
The awkward moment Sarah Palin raised $25,000 for Hillary Clinton's election campaign
Ball pool for adults opens in London
Amal Clooney gives excellent response to fashion question at European Court of Human Rights
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...