Wednesday 18 August 2021 / 8:18 PM Business / Chi Onwurah

Labour calls out Government’s last minute scrutiny of proposed Ultra Electronics takeover

Chi Onwurah MPLabour’s Shadow Business Minister, commenting on the public intervention notice on the proposed acquisition of Ultra Electronics by Cobham, said:

“It should not have been left until the eleventh hour for Government to step in and scrutinise this deal.

“The Government has given itself new powers to intervene but has no clear strategy on how and when to use them. Labour would introduce robust takeover safeguards to support and grow our world class industries and protect our vital national interests.”

Ends