§ Mr. William PowellTo ask the Secretary of State for Trade and Industry what assessment he has made of the implications for policy on takeovers of the financing arrangements of Pembridge Investments through short-term, high-interest borrowing, for the sale by auction of DRG businesses to market competitors; and if he will make a statement.
§ Mr. RedwoodThe proposed acquisition of DRG by Pembridge Investments is currently being considered by the Director General of Fair Trading. My right hon. Friend the Secretary of State will take his decision on the question of reference to the Monopolies and Mergers Commission in the light of the director general's advice and of his own consideration of all the relevant issues.
§ Mr. Neil HamiltonTo ask the Secretary of State for Trade and Industry if he will make it his policy to announce his decision on whether or not to refer to the Monopolies and Mergers Commission the Pembridge Investments bid for DRG plc before the next closing date of the offer on Friday 3 November.
§ Mr. RedwoodMy right hon. Friend the Secretary of State will announce his decision as soon as possible after he has considered the advice of the Director General of Fair Trading, as is usual.