114. Mr. MacMasterasked the President of the Board of Trade (1) what inquiries his Department are making into the conduct of American Tobacco Company Limited in buying shares in Gallaher Limited, on the London Stock Exchange on Tuesday, 16th July, following their bid to obtain a 50 per cent. interest in Gallahers;
(2) whether he will set up an inquiry to consider the propriety of the practice of partial bidders obtaining controlling interests in public companies.
§ Mr. CroslandI do not consider that an inquiry by me into these matters at this juncture would be appropriate, but I shall consider them when preparing the further Companies Bill which the Government hope to introduce later in the present Parliament.