Britain is planning the biggest change to takeover rules in almost two decades, giving the government new powers to block deals in all sectors of the economy to prevent U.K. companies in sensitive industries from falling into foreign hands.
The business minister, Greg Clark, wants to tighten the existing rules, which are limited to large transactions, to cover all British companies including small firms.
The changes mark a new era of government oversight of business activity in the world's fifth-largest economy, which has traditionally been one of the most open markets to global mergers and acquisitions.