While the UK prides itself on a liberal economy, there is an increasing trend of the government intervening or expressing a view on deals.

Sometimes the Government is seen to be supportive, eg the GM / Peugeot Deal or with Tata Steel, but it is starting to express interest in deals which may previously have completed without UK Government reviews. Historically, they have rarely used the public interest test to review deals in comparison to, say, France - issuing notices based on national security grounds only seven times since 2002.

It would appear however the UK Government may now be widening its definition of national security.

At a time when there is potential for UK assets to be picked off as a result of Sterling devaluation, and at a stage when the Government is locked in Brexit talks, any overseas acquirer must now think twice about how the UK may interpret its national interest.

Lobbyists have become even more important to a multinational’s list of advisers.