Labour Party to widen the M&A scrutiny powers
Britain's Labour government has decided to extend its powers to scrutinize foreign takeovers of UK companies if it wins the upcoming election on May 6. According to sources the party is seriously thinking to revise the merger and accusation principles in the country.
The recent Kraft foods-Cadbury deal is going to be placed in the party manifesto of the Labour party. The party's election manifesto will be published in coming week and from the preceding week the campaign will be started.
According to a report of BBC, the controversial takeover of the US firm Kraft food has dissatisfied a large part of the British voters. The voters are demanding for a public debate over the issue as they believe that the deal is against the nation's interest. Moreover the employees of the British chocolate maker have face enormous troubles like job loss, salary cut etc. just after the deal.
Hence the Labour party has moved forward to include such a sensitive issue. It is also planning to bring "Cadbury's law" to prevent the controversial takeover of the British companies by the overseas firms.