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Gloucestershire Business News

Government to stand guard against foreign takeovers

The Government is due to introduce fresh measures to make foreign takeovers of public health businesses more difficult.

Changes to the 2002 Enterprise Act would provide ministers with the ability to intervene if a business involved in a pandemic response is subject to a takeover bid from a foreign firm.

Among others, the move would cover pharmaceutical firms and those manufacturing personal protective equipment would expand the Government's ability to scrutinise takeovers involving companies working in artificial intelligence or encryption technology.

A statement from the Department for Business, Energy and Industrial Strategy said the coronavirus pandemic could mean "some businesses with critical capabilities are more susceptible to takeovers".

Business Secretary Alok Sharma said: "The UK is open for investment, but not for exploitation.

"These powers will send an important signal to those seeking to take advantage of those struggling as a result of the pandemic that the UK Government is prepared to act where necessary to protect our national security."

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