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To ask the Secretary of State for Transport, whether her Department has assessed the adequacy of existing public interest powers to scrutinise potential takeovers of strategically important airlines.
To ask the Secretary of State for Transport, whether her Department has assessed the adequacy of existing public interest powers to scrutinise potential takeovers of strategically important airlines.
The UK has a robust framework for scrutinising acquisitions where relevant public interest or national security concerns arise. Existing powers, including the National Security and Investment Act 2021, enable Government scrutiny and intervention where statutory tests are met.
In addition, any change of ownership involving a UK airline would need to satisfy the relevant aviation regulatory requirements and approvals. The Civil Aviation Authority are responsible for assessing compliance with those requirements and may refer matters to the Secretary of State.
The Government has no current plans to introduce additional public interest powers relating specifically to airline ownership.
To ask the Secretary of State for Business and Trade, whether the Government is taking steps to protect the interests of retail shareholders in situations where a majority shareholder exercises its voting rights in relation to a competing takeover offer.
To ask the Secretary of State for Business and Trade, whether the Government is taking steps to protect the interests of retail shareholders in situations where a majority shareholder exercises its voting rights in relation to a competing takeover offer.
The Takeover Code, which has a statutory basis under the Companies Act 2006, sets out a clear and orderly framework for takeovers, including measures to ensure fairness to all shareholders. The Code is issued and administered by the independent Panel on Takeovers and Mergers. The Panel has enforcement powers for breaches of the Code. Changes to the Code itself would be a matter for the Panel.
To ask the Secretary of State for Business and Trade, pursuant to the Answer of 1 December 2025 to Question 94271 on Royal Mail: Takeovers, what discussions he has held with the EP Group since December 2025 on meeting the terms of Royal Mail’s agreements with the Communication Workers Union...
To ask the Secretary of State for Business and Trade, pursuant to the Answer of 1 December 2025 to Question 94271 on Royal Mail: Takeovers, what discussions he has held with the EP Group since December 2025 on meeting the terms of Royal Mail’s agreements with the Communication Workers Union...
The Secretary of State has been in regular contact with Dave Ward, General Secretary of the Communication Workers Union (CWU), and Daniel Křetínský, the owner of EP Group, including chairing three trilateral meetings since December 2025 to encourage both sides to reach an agreement.
The Government is pleased to note that the CWU and Royal Mail have reached an agreement on the implementation of Universal Service Obligation reforms and on new entrant terms and conditions.
That this House acknowledges the takeover of the Highland Foodbank by New Start Highland from Blythswood Care, thus securing the future of the community service; and recognises the small team of staff and over 70 volunteers that work tirelessly to provide emergency food parcels to residents in Inverness, Nairn, Alness,Tain and Dingwall.
That this House acknowledges the takeover of the Highland Foodbank by New Start Highland from Blythswood Care, thus securing the future of the community service; and recognises the small team of staff and over 70 volunteers that work tirelessly to provide emergency food parcels to residents in Inverness, Nairn, Alness,Tain...
To ask the Secretary of State for Science, Innovation and Technology, what assessment he has made of the trends in the level of foreign acquisition of UK technology companies in the last five years.
To ask the Secretary of State for Science, Innovation and Technology, what assessment he has made of the trends in the level of foreign acquisition of UK technology companies in the last five years.
International deals have remained constant at around 60% of total merger and acquisition activity since 2021, with a greater concentration in innovation-driven fields.
Whilst this brings significant inward investment and unlocks funds to be reinvested back into our innovation ecosystem, Government is also taking steps to increase capital available from UK sources so that companies have the option to scale, grow and list in the UK. Measures taken to support this include increasing capitalisation of the British Business Bank and National Wealth Fund, launching a new Listings Taskforce, ongoing pensions reforms, and wider measures set out in the Entrepreneurship Prospectus.
To ask His Majesty's Government what assessment they have made of the implications of the acquisition of the UK-based AI start-up Faculty by Accenture for the UK’s broader strategy to support domestic AI innovation and retain high-growth AI companies in Britain.
To ask His Majesty's Government what assessment they have made of the implications of the acquisition of the UK-based AI start-up Faculty by Accenture for the UK’s broader strategy to support domestic AI innovation and retain high-growth AI companies in Britain.
The UK has a great history of successful UK AI startups. Faculty is an excellent example of a UK startup running with its vision and succeeding on a global scale.
We want to ensure that this ecosystem continues to thrive and recently announced a comprehensive package of support. This includes the Advance Market Commitments in which Government will act as a first customer for promising UK start-ups who are building high-quality AI hardware products. The commitment is backed by up to £100 million of government support to give British startups the opportunity for a competitive edge and to win customers in a multibillion-dollar global market.
To ask His Majesty's Government what assessment they have made of the impact on UK media plurality of a sale or merger involving US media companies.
To ask His Majesty's Government what assessment they have made of the impact on UK media plurality of a sale or merger involving US media companies.
Given the legal and commercial sensitivities involved, it would not be appropriate to comment on any potential or live media merger involving US media companies.
As set out in our Creative Industries Sector Plan, the Government is aware of the evolving nature of the TV and streaming landscape. Should any merger progress, the Competition and Markets Authority (CMA) would be responsible for examining implications for competition and consumers, provided that the relevant jurisdiction criteria are met. The Government has committed to asking the CMA, working with Ofcom, to set out how changes in the sector could be taken into account as part of any future assessment of the television and advertising markets.
To ask the Secretary of State for Business and Trade, whether he has had discussions with the Competition and Markets Authority on the process for assessing the proposed acquisition of Warner Bros. Discovery by Netflix.
To ask the Secretary of State for Business and Trade, whether he has had discussions with the Competition and Markets Authority on the process for assessing the proposed acquisition of Warner Bros. Discovery by Netflix.
Investigations by the Competition and Markets Authority (CMA) are independent of Government. The CMA reviews cases that meet certain jurisdictional tests and considers whether it believes a merger could result in a substantial lessening of competition.
To ask the Secretary of State for Business and Trade, what assessment his Department has made of the potential implications for UK competition policy of the proposed acquisition of Warner Bros. Discovery by Netflix.
To ask the Secretary of State for Business and Trade, what assessment his Department has made of the potential implications for UK competition policy of the proposed acquisition of Warner Bros. Discovery by Netflix.
Under competition law, responsibility for investigating the impact of mergers and acquisitions on competition falls to the Competition and Markets Authority (CMA), the UK’s independent competition authority. The Government has ensured that the CMA has significant powers and expertise to investigate the benefits and risks of mergers in relation to competition.
To ask the Secretary of State for Culture, Media and Sport, what discussions she has had with representatives of the UK film and cinema sectors regarding the proposed acquisition of Warner Bros. Discovery by Netflix.
To ask the Secretary of State for Culture, Media and Sport, what discussions she has had with representatives of the UK film and cinema sectors regarding the proposed acquisition of Warner Bros. Discovery by Netflix.
The Government is aware that Netflix has submitted a bid for Warner Bros. Discovery's studio and streaming assets as part of an ongoing acquisition process. Given the legal and commercial sensitivities involved, it would not be appropriate to comment on live discussions regarding this or any other potential merger with Warner Bros. Discovery.
As set out in our Creative Industries Sector Plan, the Government is aware of the evolving nature of the TV and streaming landscape. Should any merger progress, the Competition and Markets Authority (CMA) would be responsible for examining implications for competition and consumers, provided that the relevant jurisdiction criteria are met. The Government has committed to asking the CMA, working with Ofcom, to set out how changes in the sector could be taken into account as part of any future assessment of the television and advertising markets.
We recognise the importance of cinemas to our high streets and our communities, and we will remain in regular contact with stakeholders including the British Film Institute and the UK Cinema Association on how best to support the UK film and cinema sectors.
To ask the Secretary of State for Culture, Media and Sport, what assessment she has made of the potential impact of the proposed acquisition of Warner Bros. Discovery by Netflix on the UK cinema exhibition sector.
To ask the Secretary of State for Culture, Media and Sport, what assessment she has made of the potential impact of the proposed acquisition of Warner Bros. Discovery by Netflix on the UK cinema exhibition sector.
The Government is aware that Netflix has submitted a bid for Warner Bros. Discovery's studio and streaming assets as part of an ongoing acquisition process. Given the legal and commercial sensitivities involved, it would not be appropriate to comment on live discussions regarding this or any other potential merger with Warner Bros. Discovery.
As set out in our Creative Industries Sector Plan, the Government is aware of the evolving nature of the TV and streaming landscape. Should any merger progress, the Competition and Markets Authority (CMA) would be responsible for examining implications for competition and consumers, provided that the relevant jurisdiction criteria are met. The Government has committed to asking the CMA, working with Ofcom, to set out how changes in the sector could be taken into account as part of any future assessment of the television and advertising markets.
We recognise the importance of cinemas to our high streets and our communities, and we will remain in regular contact with stakeholders including the British Film Institute and the UK Cinema Association on how best to support the UK film and cinema sectors.
To ask His Majesty's Government what assessment they have made of the impact of Netflix’s proposed acquisition of Warner Brothers Discovery on competition and consumer prices in the UK streaming market, on investment in UK film and TV productions, and on the viability of the UK cinema sector.
To ask His Majesty's Government what assessment they have made of the impact of Netflix’s proposed acquisition of Warner Brothers Discovery on competition and consumer prices in the UK streaming market, on investment in UK film and TV productions, and on the viability of the UK cinema sector.
The Government is aware that Netflix has submitted a bid for Warner Bros. Discovery's studio and streaming assets as part of an ongoing acquisition process. As the bidding process is ongoing and no transaction has been finalised, it would not be appropriate to provide comment further on this individual case.
As set out in our Creative Industries Sector Plan, the Government recognises that convergence in the TV and streaming market is leading to greater consolidation as companies seek economies of scale. Should any proposed transaction progress, the Competition and Markets Authority (CMA) would be responsible for examining implications for competition and consumers. The Government has committed to asking the CMA, working with Ofcom, to set out how changes in the sector could be taken into account as part of any future assessment of the television and advertising markets.
To ask the Secretary of State for Business and Trade, if he will hold discussions with EP Group on meeting the terms of Royal Mail's agreements with (a) the Communication Workers Union and (b) the Government on (i) workforce pay and conditions and (ii) other matters.
To ask the Secretary of State for Business and Trade, if he will hold discussions with EP Group on meeting the terms of Royal Mail's agreements with (a) the Communication Workers Union and (b) the Government on (i) workforce pay and conditions and (ii) other matters.
The government engaged with EP Group and the Communication Workers Union (CWU) throughout the process of Royal Mail’s ownership transition. The Deed of Undertaking we agreed with the new owner includes a commitment from EP Group that they will continue to recognise the unions and abide by the future terms of legally binding agreements they make with them.
The agreement between the government and EP Group does not give the government a role in the operational decisions of the business – it remains a private entity.
We will continue to monitor compliance with these undertakings and maintain dialogue with all parties to ensure that agreed protections and principles are upheld.
My Lords, the Secretary of State and I are acutely aware that the Telegraph and those who work there have been in limbo for too long. We are keen for this to be resolved as soon as possible in the public interest. The Secretary of State has now received a formal withdrawal of RedBird IMI’s request to progress the sale of the call option to RedBird Capital Partners. I am sure the noble Lord will understand that I cannot provide a running commentary or go into detail on this commercially sensitive live case. The Secretary of State will update Parliament when regulatory decisions are made.
My Lords, the Secretary of State and I are acutely aware that the Telegraph and those who work there have been in limbo for too long. We are keen for this to be resolved as soon as possible in the public interest. The Secretary of State has now received a formal withdrawal of RedBird IMI’s request to progress the sale of the call option to RedBird Capital Partners. I am sure the noble Lord will understand that I cannot provide a running commentary or go into detail on this commercially sensitive live case. The Secretary of State will update Parliament when regulatory decisions are made.
To ask His Majesty’s Government what assessment they have made of reports of the withdrawal of the RedBird bid for ownership of the Telegraph Media Group.
I thank the Minister for that Answer. When the Government hastily tabled the statutory instrument that was specifically designed to allow RedBird to make its acquisition, it was crystal clear to many of us that the deal was wrong. Now the financial wreckage left behind by RedBird’s exit is very complex. For example, some reports suggest that Abu Dhabi-based International Media Investments could retain huge residual interest in the Telegraph and, depending on the final price of any sale, that could be well more than 15%. The Telegraph Media Group clearly needs a white knight acquirer, but to ensure the best interest does the Minister agree that none of the players involved in the deals to date should be driving the sale process? Does she also concede that, given DCMS’s failure to read the financial room, it too should stand aside in favour of the Cabinet Office or perhaps an external adviser experienced in dealing with these kinds of complex issues?
I thank the Minister for that Answer. When the Government hastily tabled the statutory instrument that was specifically designed to allow RedBird to make its acquisition, it was crystal clear to many of us that the deal was wrong. Now the financial wreckage left behind by RedBird’s exit is very complex. For example, some reports suggest that Abu Dhabi-based International Media Investments could retain huge residual interest in the Telegraph and, depending on the final price of any sale, that could be well more than 15%. The Telegraph Media Group clearly needs a white knight acquirer, but to ensure the best interest does the Minister agree that none of the players involved in the deals to date should be driving the sale process? Does she also concede that, given DCMS’s failure to read the financial room, it too should stand aside in favour of the Cabinet Office or perhaps an external adviser experienced in dealing with these kinds of complex issues?
The Secretary of State has adhered to the letter of the law and diligently carried out her quasi-judicial responsibilities. There is no basis to the suggestion that the decision should be made elsewhere. Securing a swift outcome in the public interest is a priority for her, and she will continue to act within the bounds of the regulatory framework as set out in the Enterprise Act 2002. Noble Lords wanted powerful legislation to prevent foreign states from owning a stake in our newspapers and rightly so. Now we must allow for resolution to be sought to secure stability for the Telegraph.
The Secretary of State has adhered to the letter of the law and diligently carried out her quasi-judicial responsibilities. There is no basis to the suggestion that the decision should be made elsewhere. Securing a swift outcome in the public interest is a priority for her, and she will continue to act within the bounds of the regulatory framework as set out in the Enterprise Act 2002. Noble Lords wanted powerful legislation to prevent foreign states from owning a stake in our newspapers and rightly so. Now we must allow for resolution to be sought to secure stability for the Telegraph.
The Secretary of State has adhered to the letter of the law and diligently carried out her quasi-judicial responsibilities. There is no basis to the suggestion that the decision should be made elsewhere. Securing a swift outcome in the public interest is a priority for her, and she will continue to act within the bounds of the regulatory framework as set out in the Enterprise Act 2002. Noble Lords wanted powerful legislation to prevent foreign states from owning a stake in our newspapers and rightly so. Now we must allow for resolution to be sought to secure stability for the Telegraph.
I thank the Minister for that Answer. When the Government hastily tabled the statutory instrument that was specifically designed to allow RedBird to make its acquisition, it was crystal clear to many of us that the deal was wrong. Now the financial wreckage left behind by RedBird’s exit is very complex. For example, some reports suggest that Abu Dhabi-based International Media Investments could retain huge residual interest in the Telegraph and, depending on the final price of any sale, that could be well more than 15%. The Telegraph Media Group clearly needs a white knight acquirer, but to ensure the best interest does the Minister agree that none of the players involved in the deals to date should be driving the sale process? Does she also concede that, given DCMS’s failure to read the financial room, it too should stand aside in favour of the Cabinet Office or perhaps an external adviser experienced in dealing with these kinds of complex issues?
My Lords, it is 18 months since this House effectively forced RedBird IMI to sell the Telegraph. It is more than unacceptable that the Telegraph’s ownership remains unresolved. Can the Minister confirm that IMI, the Emirati fund, cannot transfer any debt on to the Telegraph that it incurred from paying an inflated £500 million for the business and that such a poison pill would breach all legal limits on foreign state investment funds as well as the law preventing foreign states from owning, controlling or influencing a British newspaper?
My Lords, it is 18 months since this House effectively forced RedBird IMI to sell the Telegraph. It is more than unacceptable that the Telegraph’s ownership remains unresolved. Can the Minister confirm that IMI, the Emirati fund, cannot transfer any debt on to the Telegraph that it incurred from paying an inflated £500 million for the business and that such a poison pill would breach all legal limits on foreign state investment funds as well as the law preventing foreign states from owning, controlling or influencing a British newspaper?
The parties have given public assurances that this is not how the deal has been structured, which the Secretary of State was pleased to see, and I hope gives reassurance to the noble Baroness. They stated:
“The structure of the transaction has always been that upon any sale, the security and guarantees granted by the Telegraph companies in respect of the Redbird IMI loan will be fully extinguished and discharged. Further, the Telegraph would not assume any debt owed by the Barclay family”.
On that basis, it is not my current understanding that the Telegraph would be responsible for the debt. I hope that gives the noble Baroness the reassurances she requires.