Extract from PMQs: GKN - Mar 28

Some 259 years of GKN history will be decided in the next 24 hours—a hostile takeover, not in the British national interest, that the Government have powers to block. May I ask the Prime Minister this? Disturbing evidence has come to light of a hedge fund scam to buy shares in GKN while avoiding paying tax on shares that will determine the future of GKN. Will she agree to condemn this outrageous practice and investigate as a matter of urgency?

As the hon. Gentleman knows, this is primarily a commercial decision for GKN. My right hon. Friend the Business Secretary is in discussion with the parties on an impartial basis and has sought reassurance from them on their plans. If the hon. Gentleman has evidence that illegal activity has taken place, that should be reported to the proper authorities.