The UK government is looking to roll back powers to intervene in company takeovers less than two years after they were introduced, in an attempt to be more business friendly.
The deputy prime minister, Oliver Dowden, said the government would review measures narrowing and refining the National Security and Investment Act, which only entered into force in January 2022, and allowed much greater scrutiny of foreign investments in British companies.
A reversal of the changes would represent the latest change of tack by a government that has wavered between wanting to be open to business and a desire to block takeovers of businesses in strategically important sectors.
The government launched a nine-week consultation on Monday to invite the views…
Read the full article at: https://www.theguardian.com/business/2023/nov/13/uk-plans-u-turn-on-powers-to-halt-company-takeovers-on-national-security-grounds