Against the background of Kraft's hostile bid for Cadbury, the Financial Times and Times newspapers report (see here and here) that Lord Mandelson, the Secretary of State for the Department of Business, Innovation and Skills, will be meeting with institutional shareholders tomorrow to discuss their role in takeovers. According to the Times report:A top-level delegation from the Department for Business, Innovation & Skills (BIS) ... will ask Britain’s biggest institutional investors to show “stewardship” by taking a firmer line against opportunistic takeover bidders attempting to pick up listed companies on the cheap".
Takovers were also the subject of a public hearing yesterday organised by the Business, Innovation and Skills Parlimentary Committee. The meeting can be viewed here.
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