Select Committee members can do a bit of grandstanding, Prime Ministers deliver a bit of macho jive talk – but the fact is that politicians can do jack-s*** about the Pfizer/Astra Zeneca deal . They CANNOT influence board or even management decisions.
Read carefully what DC said this week: “
Our entire approach is based on TRYING to secure the best possible deal in terms of jobs, investment and science. And that is why I believe it was absolutely right to ask the cabinet secretary to ENGAGE with Pfizer, just as we’re engaging with AstraZeneca, and I do find it extraordinary that we’ve been criticised for this.”
The Enterprise Act only allows government to intervene in the case of mergers affecting NATIONAL SECURITY or MEDIA OWNERSHIP.
After the Kraft takeover of Cadbury’s and subsequent events, the Takeover Code was amended in 2011 so that nowadays, the bidding company has to publish INFORMATION as to the anticipated effects of the takeover and employees are able to give their VIEWS. All irrrelevant window-dressing which does NOT affect future management decisions.
Let’s PLEASE stop all the pretence.