asked the Secretary of State for Trade if he will seek to amend the laws as to prevent a company which has already anounced an intention to make a takeover bid for another company, to avoid any disclosure provisions of the Companies Acts by setting up a brand new company, with no trading record, as a vehicle to facilitate the takeover.
All companies are subject to the appropriate disclosure provisions of the Companies Acts and I see no reason to amend the law.
asked the Secretary of State for Trade if he is satified that there are adequate provisions to ensure that one party in a takeover bid is not given information concerning a company's performance that is not generally available to other shareholders; and what action there is available to him currently to prosecute those in default on such a matter.
I shall reply to the hon. Member as soon as possible.
|Paper and board excluding||'000 tonnes||239·8||281·4||283·5||313·9||333·9|
|pulp and waste paper||£ million||573·9||765·4||897·9||962·3||1,122·1|
|Manufactured stationery||£ million||16·5||15·7||20·4||23·1||26·2|
|Manufactures of paper and board not elsewhere specified||£ million||20·0||28·5||29·1||48·4||60·1|
|Import Penetration*, per cent|
|Paper and board, excluding pulp and waste paper||43||44||45||46||47|
|Manufactures of paper and board not elsewhere specified||5||6||6||9||9|
|*Import penetration is defined as imports (cif) as a percentage of home demand, where home demand=manufacturers' sales + imports (cif)—exports (fob).|
|† The information relates to the 12 month period ending September 1979, the latest available.|