HC Deb 07 February 1963 vol 671 cc91-2W
66. Mr. Gresham Cooke

asked the Chancellor of the Exchequer how Richard Thomas and Baldwin, in view of their overdraft of£9 million disclosed in their last accounts, propose to raise the further£9 million necessary to make a cash offer for the Whitehead Iron and Steel Company.

Mr. Boyd-Carpenter

The amount necessary to finance the purchase by Richard Thomas and Baldwin of shares in the Whitehead Iron and Steel Company is being advanced so far as necessary by the Iron and Steel Holding and Realisation Agency. As my hon. Friend knows, the Agency is at present the sole shareholder in Richard Thomas and Baldwin. The exact amount which will be required, being dependent on the response made to the offer by Messrs. Richard Thomas and Baldwin, is not yet known.