UK tightens takeover rules

Britain on Tuesday rolled out new rules to make it harder for foreign firms to buy UK assets amid national security concerns surrounding proposed takeovers by Chinese and US groups.

The legislation will give ministers closer scrutiny of foreign approaches, allowing them to impose conditions on proposed deals or even block them, the government said in a statement.

Overseas investors and firms must now notify the government if they plan to buy any part of a UK business in sensitive sectors that could imperil national security -- such as defence and energy.