UK trade minister: We need to protect British firms from predatory overseas bids

FILE PHOTO: Britain's International Trade Secretary Liz Truss arrives at the Foreign and Commonwealth Office (FCO), ahead of a cabinet meeting to be held at the FCO, for the first time since the COVID-19 lockdown in London, Britain July 21, 2020. Stefan Rousseau/Pool via REUTERS

LONDON (Reuters) - Britain has to make sure that British firms are not subject to predatory takeover bids from foreign states, trade minister Liz Truss said on Saturday.

“We need to make sure that, particularly in coronavirus when a lot of companies are undervalued, that we’re not allowing the sort of predatory bids from states that don’t necessarily have Britain’s best interests at heart,” Truss told the Conservative Party’s annual conference.

She declined to give examples.

Reporting by William James; editing by Sarah Young