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.
| Imports | ||||||
| Units | 1975 | 1976 | 1977 | 1978 | 1979 | |
| 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 | ||||||
| 1975 | 1976 | 1977 | 1978 | 1979† | ||
| Paper and board, excluding pulp and waste paper | 43 | 44 | 45 | 46 | 47 | |
| Manufactured stations | 5 | 4 | 5 | 5 | 4 | |
| Manufactures of paper and board not elsewhere specified | 5 | 6 | 6 | 9 | 9 | |
| Notes; | ||||||
| *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. | ||||||