Goldsmith Gets a Go-Ahead: The British government...

Goldsmith Gets a Go-Ahead: The British government gave a conditional go-ahead to financier Sir James Goldsmith’s hostile takeover bid for London-based tobacco and financial services giant BAT Industries PLC. The Department of Trade and Industry said the offer being made through Goldsmith’s investment vehicle, Hoylake Investments Ltd., Europe’s largest at $21.3 billion, would not be referred to the Monopolies and Mergers Commission. Takeover bids are normally referred to the commission if they threaten to reduce competition.