§ Mr. Austin Mitchellasked the Secretary of State for Trade and Industry what was the original deadline for bids for Vickers Cammell Laird yard; on what basis and on what terms an extension was granted and to whom; what steps he took to satisfy himself that such an extension would enable commercial confidentiality to be maintained for other bids; and if he will make a statement.
§ Mr. Peter Morrison[pursuant to his reply, 3 March, c. 43]: Lazard Brothers, who are handling the sale of the warship yards on behalf of British Shipbuilders, originally invited bids by 12 noon on 25 February. As a result of a request from one bidder on 21 February, and with the agreement of all concerned, Lazards then told all bidders that they should receive bids by 5 pm on Tuesday 25 February. Lazards said they might reject any bid received after that time and date.
I understand that, shortly before 5 pm on 25 February, Lazards agreed to a request from one bidder to receive its bid shortly after 5 pm. Lazards have assured me that no other bid had been received when the request was granted, and that the confidentiality of any bids received was fully respected.