Melrose fans the flames on incendiary bid for GKN
Warwickshire manufacturing turnaround specialist Melrose has stoked the fires of controversy by affirming its view that it can add value to engineering giant GKN.
Redditch-based GKN surprised the markets on Friday with an announcement that it had received an audacious bid from Alcester-based Melrose, which valued its business at around £7bn.
GKN has shunned the approach and in a statement issued without Melrose’s consent said the offer significantly undervalued the company.
The approach had an instant impact on GKN’s sha... For the full story register now for free or login below...