Competition and Markets Authority responds to Business Committee on powers to investigate takeovers
20 July 2021
Following a recent letter from Darren Jones, Chair of the Business, Energy and Industrial Strategy Committee, the BEIS Committee has today published the Competition and Markets Authority’s response outlining their role in respect of leveraged purchases of high street names and supermarkets.
- Letter from Dr Andrea Coscelli CBE Chief Executive, Competition and Markets Authority (12 July 2021)
- Business, Energy and Industrial Strategy Committee
Darren Jones, Chair of the Business, Energy and Industrial Strategy Committee, said:
“I appreciate the Competition and Markets Authority’s detailed response to my queries on the scope of their powers in situations when private equity and other buyers use significant amounts of debt to bid for British companies. The CMA understandably points to separate public policy questions concerning the impact of private investment and how we treat private equity in the tax system.
“However, the CMA’s response suggests there remains questions for Government about whether the right regulatory checks and balances are in place to ensure consumers, workers and pensioners are protected in the most significant take overs.”
Original letter from Darren Jones, BEIS Committee Chair, to the CMA (1 July, previously published).
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