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May Faces Calls to Tighten Takeover Rules After Kraft-Unilever

  • Lawmakers urge her to expand exisiting public interest test
  • Pound’s fall since Brexit increases chances of foreign bids
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Why Did Kraft Heinz Pull Out of Unilever Deal?

U.K. Prime Minister Theresa May came under pressure to tighten takeover rules, and do so quickly, in the wake of the failed Kraft Heinz Co. bid for Unilever Plc

“I use the expression sitting ducks, and I’d worry about who’s next,” Vince Cable, Business Secretary until 2015, said in an interview. “We have very weak takeover code in the U.K. The public interest tests are too narrow.”