GKN rejects second takeover bid as battle heats up
GKN has rejected a second takeover bid from Melrose, despite the offer being upped to £7.4bn.
Melrose had increased its unsolicited bid for GKN by £400m this morning after its initial offer was unanimously rejected and GKN's share price surged.
The industrial investor had a 405p-per-share bid knocked back by the board of GKN on Friday, although that started a public battle for ownership that has attracted interest from other companies and speculators.
GKN's share price has risen 34% in three days since the initial bid was r... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
