Sumary of Mike Lynch extradition question is a sovereignty issue for UK business:
- Priti Patel, the home secretary, has to decide if the extradition of the former Autonomy boss to face 17 counts including wire fraud and securities fraud can go ahead.
- In the middle of it all sits the related fact that Autonomy was a UK company whose $11bn (£7.8bn) takeover by Hewlett-Packard of the US in 2011 was conducted under UK takeover rules.
- And the Financial Reporting Council’s record £15m fine last year for Deloitte for audit failures at Autonomy has only heightened the sense of unanswered questions around the takeover.
- This looks as good a moment as any to speed up the process through the drip-drip trading plan announced by the Treasury on Thursday.
- City advisers board £275m Morrisons takeover gravy trainTo nobody’s surprise whatsoever, the battle for Morrisons will be the usual lash-up for the City advisers.