Cable set to tighten up foreign acquisitions
Monday 25 October 2010
A radical shake-up of Britain's takeover laws has been signalled by the Secretary of State for Business, Vince Cable.
Mr Cable told reporters that he was examining the issue and the "Cadbury's Law" argument – which has been live issue ever since Kraft's £10.8bn hostile takeover of the British chocolate-maker last year demonstrated the comparative ease with which national industrial assets could be acquired by foreign interests.
Mr Cable said: "There does remain a problem that as far as we can see from the objective evidence takeovers tend to reduce value, not increase it. We are going to have to look; I want to take what the Takeover Panel has done – and it is positive – and probably go rather further. On remuneration, there is an issue that certainly over the last decade executive pay has far outstripped shareholder performance.
"It is a tricky issue whether we legislate to give shareholders more voting power. I don't want to rush in to some crass change that has unintended consequences."
- 1 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 2 Oil tanker with $100 million cargo goes missing off Texas coast
- 3 George Galloway left with severe bruising after attack in Notting Hill by man 'shouting about the Holocaust'
- 4 Lady al-Qa’ida: On the trail of Dr Aafia Siddiqui, the world’s most wanted prisoner
- 5 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
Oil tanker with $100 million cargo goes missing off Texas coast
George Galloway left with severe bruising after attack in Notting Hill by man 'shouting about the Holocaust'
A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
- < Previous
- Next >
iJobs Money & Business
Highly Attractive Salary: Austen Lloyd: BRISTOL - This is a very unusual law c...
£35000 per annum: Harrington Starr: Network Engineer (CCNP, CCNA, Linux, OSPF,...
£50000 per annum: Harrington Starr: DevOps Engineer (Systems Administration, L...
£60000 - £70000 per annum: Harrington Starr: A prestigious leading professiona...