Thursday, 1 November 2012
The Heseltine Review report was published yesterday: see here (pdf). Titled No stone unturned in the pursuit of growth, the report contains 89 recommendations. One recommendation - number 73 - concerns takeovers and foreign ownership: Lord Heseltine argues that the Government needs to take a more interventionist approach, including engaging with potential foreign investors to secure commitments regarding research and skills and, exceptionally, to discourage unwanted investment. Such an approach should, he states, be underpinned by a greater willingness to use existing powers under the Enterprise Act 2002 to intervene in mergers.