Morrisons: Takeovers

Department for Business, Energy and Industrial Strategy written question – answered on 20th October 2021.

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Photo of Seema Malhotra Seema Malhotra Shadow Minister (Business, Energy and Industrial Strategy)

To ask the Secretary of State for Business, Energy and Industrial Strategy, what role the Government had in the CD&R takeover of Morrisons.

Photo of Paul Scully Paul Scully Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy), Minister of State (London)

Under the Enterprise Act 2002, the Government has the power to intervene in mergers on public interest grounds covering national security, media plurality, the stability of the UK financial system and the need to maintain in the UK the capability to combat, and to mitigate the effects of, public health emergencies.

My Rt. Hon. Friend the Secretary of State had a constructive call with the Chief Executive of WM Morrisons and they discussed the company’s plans to protect jobs, pensions and footprint in the UK in any potential acquisition. However, the details of the proposed acquisition are primarily a commercial matter for the parties concerned.

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