Good news from the House of Lords. We don't have certain laws that we shouldn't have:
Baroness Neville-Rolfe, the minister for business, energy and industrial strategy, said the Government had no such powers, and that it was up for the respective companies to decide on them.
This was in response to this bleating:
In a recent parliamentary question, he asked whether the Government was able to require that SoftBank provide financial support to ARM and whether it had reviewed SoftBank’s financial position before approving the deal.
The point being that ARM Holdings is a private sector company. This means that it is the private property of the shareholders, for them to dispose of as they see fit. For the government to have the powers to insist upon terms is as ludicrous as their deciding whether my spare shirts go up on e-Bay, stay in the cupboard or are given to Oxfam. They're my shirts - it's their company. I, they, get to decide on the disposition of my/their property.
That's just what private property means.
If Lord Myners thinks that ARM Holdings or any other organisation in the land should not be private property then he's entirely at liberty to campaign for their nationalisation. And to work out where to raise the money from. But until that day then private property really is private property.