2/2 yday @JackDromeyMP & I wrote to Greg Clark asking him to confirm s58 of 2002 Act applies & that he's willing review GKN takeover bid on national security grounds. We are awaiting a reply. Big test for govt's 'industrial strategy' here given PM's numerous comments on takeovers
GKN’s global headquarters is in Redditch - employing 200+ people in local jobs, and in the light of pensions concerns recently raised in the wake of #Carillion’s collapse, I’m seeking assurances that in the event of a hostile takeover pensions will be protected.pic.twitter.com/odN501922h
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Melrose are a UK based business?
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V disappointing that David Lidington could not anwer PMQ by @richardburdenMP 2day asking for govt to use s58 of 2002 Enterprise Act to review takeover of GKN! Govt has power to act here but isn't committing to use that power. Poor indictment of state of govt's industrial strategy
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Not another American business about to takeover and make job losses in this country . It’s becoming ridiculous...
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Based in Birmingham (Snow Hill)
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But you are conspicuously silent on whether Sec State should use s58 2002 Enterprise Act to review this on national security ground. I take it from your silence that you have no view on this? Not good enough for GKN workers in your constituency!
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1/2 Perhaps you could ask Greg Clark to review the takeover under s58 of 2002 Enterprise Act on national security grounds, as current legislation allows? The US will no doubt review it via CFIUS given GKN's military input into the F35 and B21, so why can't UK govt review it?
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Rachel seeks attention
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