UK Government publishes proposals to tighten control over takeovers based on national security concerns
The Department for Business, Energy & Industrial Strategy has published a Green Paper setting out proposals to give the Government greater scope to intervene in takeovers that raise national security concerns.
In the short term, the proposals would give the Government the power to block the foreign takeover of smaller companies in the defence and technology sectors that would currently fall outside of its jurisdiction.
Longer term, the consultation considers changes to the way in which foreign investment in certain sectors is reviewed, with proposals for greater "call-in" powers under the current voluntary notification regime, or the introduction of a mandatory notification requirement.
Click here for a note which considers the proposals in more detail, available to subscribers to the Linklaters Knowledge Portal.