Extract from PMQs: GKN - Mar 14

Q2. Last week, GKN workers came to Parliament—typically 25 and 30 years’ service, their mums and dads before them working for a British engineering icon that is 259 years old. Sat opposite were the three fabulously wealthy owners of Melrose, determined to stage a hostile takeover of the company, break it up and sell it off. I ask the Prime Minister this. She told Parliament that she would act in the national interest; the next 10 days will decide the future. Will she use the powers that she has to intervene and block this hostile takeover in the British national interest? [904360]

As the hon. Gentleman knows, the Business Secretary has been speaking to both companies on an impartial basis. We will always act in the UK’s national interest; actually, it is under this Government that we have seen the changes introduced to the takeover code to provide greater transparency and give target firms more time to respond. There is a narrow range of scenarios where Ministers can intervene on mergers on public interest grounds, but we will always ensure that we act in the national interest.