UK companies 'perform better' with overseas owners

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Lord Grimstone says Britain should not pull down the shutters on the flood of overseas takeover bids.

Many companies perform better with overseas ownership according to business minister Lord Grimstone, who said the UK had nothing to fear from a recent flood of private foreign takeover bids for UK-listed companies.

"All our research shows that overseas invested companies are more productive and produce more jobs," added Lord Grimstone. Currently, grocery company Morrisons and defence contractors Meggitt and Ultra are the subject of bidding wars between overseas investors.Lord Grimstone, former deputy chairman of Barclays, which will be a major sponsor of the upcoming summit, said the UK was at the forefront of industries of the future, including renewable energy and the convergence of finance and technology - so-called fintech.

 

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Would that be overseas owners that “donate” to the Conservatives?

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