Autonomy boss rejects protection

BRITISH companies should get no special protection from takeovers by overseas multi‑nationals, Mike Lynch, chief executive of software giant Autonomy, has claimed.

Autonomy unveiled a recommended £6.7 billion takeover bid from US technology giant HP last week. Lynch said his company had “world experts” and “cutting edge technology” that could not just be transplanted abroad, and did not need protection.

Calls for such protection followed the controversial takeover of Cadbury by US giant Kraft last year.