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House Of Fraser

Volume 81: debated on Friday 28 June 1985

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asked the Secretary of State for Trade and Industry (1) if he sought any evidence from sources other than the A1 Fayeds or Kleinwort Benson as to whether the A1 Fayeds had adequate cash resources from their own funds to pay for the House of Fraser prior to taking his decision not to refer their bid to the Monopolies and Mergers Commission; and if he will make a statement;(2) if he sought any evidence, other than from Kleinwort Benson and the A1 Fayeds upon which to ascertain the true beneficial ownership of the House of Fraser prior to making his decision not to refer the bid by A1 Fayed to the Monopolies and Mergers Commission; and if he will make a statement.

The Secretary of State took his decision not to refer in the light of information about the proposed merger from a number of sources.