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These proposals must be supported by a new takeover regime.
The European Commission repeatedly attempted to standardize a hostile takeover regime for the continent but encountered much resistance.
He said that the City's investment outlook had changed in recent years, which warranted a review of the takeover regime.
May and her Conservative Party have however made a number of statements regarding plans to reform the foreign takeover regime in the UK.
The City grandee Roger Carr, the ex-chairman of Cadbury, first proposed a review of the takeover regime in the wake of the Kraft deal.
The FT leads with Ken Clarke vowing to defend Britain's liberal takeover regime, dismissing Labour plans to impede hostile takeovers and deter hedge fund predators as "populist nonsense".
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However, the regulatory takeover regimes in Europe and the U.S. remain starkly different.
Takeover regimes in Europe have been under persistent scrutiny by the public, politicians, and market participants.
Looking forward, it remains a particular challenge to conjecture whether convergence between Europe and the United States in their takeover regimes will develop.
Professor John Coats has provided some evidence that this is all true, although no full-scale study of these issues or a comparison of the British and American takeover regimes has ever been conducted.
"We are very much open for business but we could be open without saying yes to every single merger regardless of the impact on the economy". Umunna added, however, that the UK had one of the most permissive takeover regimes in the western world.
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