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Conglomerate Companies (Takeover Bids)

Volume 958: debated on Monday 20 November 1978

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asked the Secretary of State for Prices and Consumer Protection what recent studies his Department has made of the activities of conglomerate companies which use large financial resources to take over companies whose business is unrelated to their own and in fields where they have no technical expertise.

An interdepartmental group of senior officials has reviewed this issue amongst others as part of a wider study of monopolies and mergers policy. Their report which my right hon. Friend published as a Green Paper last May contained certain recommendations for strengthening control over the activities of conglomerate companies. But these recommendations are still the subject of consultation and do not represent current Government policy.