New UK Law Boosts Scrutiny Over Hostile Foreign Takeovers

Kwasi Kwarteng, secretary of state for business, energy and industrial strategy, holds a discussion with Tees Valley Mayor Ben Houchen on the second day of the Conservative Party Conference in Manchester, on Oct. 4, 2021. Ian Forsyth/Getty Images

Foreign firms will find it harder to buy British businesses considered key to national security, as new legislation grants the UK government more powers to vet foreign investment.

The National Security and Investment Act, which came into force on Jan. 4, is said to be the biggest shake-up of the UK’s national security regime for 20 years.