PARLIAMENTARY WRITTEN QUESTION
GKN: Melrose (6 February 2018)

To ask the Secretary of State for Business, Energy and Industrial Strategy, what discussions he has had with the Secretary of State for Defence on the effect on domestic defence supply chains of the takeover of GKN by Melrose.

Asked by:
Darren Jones (Labour)

While this is a commercial matter for the companies involved, Government is closely monitoring the situation. My right hon. Friend the Secretary of State for Business, Energy and Industrial Strategy has spoken on an impartial basis to both companies.

Takeovers of publicly listed companies in the UK must abide by the Takeover Code, which sets out an orderly framework for how takeovers must be conducted, and earlier this month new changes to the Code were introduced that will give companies subject to a bid more time to prepare their response.

Ministers can only intervene in mergers on public interest grounds, covering national security, financial stability or media plurality.

Answered by:
Andrew Griffiths (Conservative)
12 February 2018