Rejected petition A call for “The Crème Egg Act” to protect UK companies.

The Cadbury Crème Egg debacle is the most recent and public example of the destructive nature of hostile takeovers, especially by international companies which don’t share British values, taste or sensibilities. In the rest of the world hostile takeovers are uncommon or even unknown. Our government is alone in its belief in the benefit of hostile takeovers, which is not supported by the evidence of current fiscal deficits. The UK’s takeover laws are influenced by short-termism, creating a profit for shareholders, however it is clear that in the long term the country as a whole losses out, hollowing out Britain’s manufacturing sector.

Hostile takeovers should be banned completely and takeovers should only go ahead if the current company board agrees to the sale. This will protect UK companies, jobs, profits and cherished brands long term.