Morrisons: Takeovers

Department for Environment, Food and Rural Affairs written question – answered on 12th July 2021.

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Photo of David Jones David Jones Conservative, Clwyd West

To ask the Secretary of State for Environment, Food and Rural Affairs, what assessment he has made of the potential effect on UK agriculture of a foreign takeover of Morrisons plc.

Photo of Victoria Prentis Victoria Prentis The Parliamentary Under-Secretary of State for Environment, Food and Rural Affairs

We continue to monitor the situation. The Government is committed to ensuring that the UK remains open for business, while protecting the livelihoods of British workers and investment in the UK. We recognise that overseas investors play a major and positive role in stimulating economic growth in every part of the UK. In most cases, it is right that mergers are treated as a commercial matter for the parties involved.

We have received reassurances from Morrisons of the priorities of the potential new investor, including support of the relationships Morrisons has fostered with small suppliers and farmers and no material changes to existing payment practices are expected.

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