§ Mr. Wigleyasked the Secretary of State for Trade if he will seek to amend the laws as to prevent a company which has already anounced an intention to make a takeover bid for another company, to avoid any disclosure provisions of the Companies Acts by setting up a brand new company, with no trading record, as a vehicle to facilitate the takeover.
§ Mr. EyreAll companies are subject to the appropriate disclosure provisions of the Companies Acts and I see no reason to amend the law.
§ Mr. Wigleyasked the Secretary of State for Trade if he is satified that there are adequate provisions to ensure that one party in a takeover bid is not given information concerning a company's performance that is not generally available to other shareholders; and what action there is available to him currently to prosecute those in default on such a matter.
§ Mr. EyreI shall reply to the hon. Member as soon as possible.
Imports Units 1975 1976 1977 1978 1979 Paper and board excluding '000 tonnes 239.8 281.4 283.5 313.9 333.9 pulp and waste paper £ million 573.9 765.4 897.9 962.3 1,122.1 Manufactured stationery £ million 16.5 15.7 20.4 23.1 26.2 Manufactures of paper and board not elsewhere specified £ million 20.0 28.5 29.1 48.4 60.1 Import Penetration*, per cent 1975 1976 1977 1978 1979† Paper and board, excluding pulp and waste paper 43 44 45 46 47 Manufactured stations 5 4 5 5 4 Manufactures of paper and board not elsewhere specified 5 6 6 9 9 Notes; *Import penetration is defined as imports (cif) as a percentage of home demand, where home demand=manufacturers' sales + imports (cif)—exports (fob). † The information relates to the 12 month period ending September 1979, the latest available.