GKN board rejects revised £8.1bn Melrose offer

GKN has rejected an increased offer for its business from turnaround specialist Melrose, saying the new offer of £8.1bn still fundamentally undervalues the company. In a statement to its shareholders, GKN said the Melrose bid did not reflect the value of its world class Aerospace business, which GKN expects to be a significant income generator moving forward. Under the terms of its strategic review, dubbed Project Boost, GKN proposes splitting off its Drive and Aerospace divisions into two separate companies. On Friday (Marc... For the full story register now for free or login below...
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