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Kingfisher/Dixon Takeover Report

Volume 176: debated on Wednesday 18 July 1990

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32.

To ask the Secretary of State for Trade and Industry how much compensation he estimates his Department paying in the wake of the early release of the Kingfisher/Dixon takeover report.

35.

To ask the Secretary of State for Trade and Industry how much compensation he estimates his Department paying in the wake of the early release of the Kingfisher/Dixon takeover report.

I will continue to consider claims received before the end of this month for losses incurred on the morning of 23 May by those buying Dixons shares, selling Kingfisher shares or dealing in traded options. I will then be able to estimate more accurately the cost. Payments will be on the basis of one half of the differences between the price at which the shares or options were bought or sold on Wednesday morning 23 May, and the prices ruling when trading was resumed shortly after 1 pm. I will take into account corresponding gains from selling Dixons shares or buying Kingfisher shares, or from hedging positions in the options market.