Sparks set to fly on takeover battle as GKN reveals £2bn of electric vehicle business
Engineering group GKN has underlined the strength of its work in the Electric Vehicle market by revealing an order book worth £2bn.
The announcement could be seen as a ploy to reinforce the value of the Redditch-based company in its current takeover battle with turnaround specialist Melrose.
Melrose last week upped its £7bn offer for the company to £7.4bn in a move designed to persuade GKN shareholders to see the value in a takeover.
GKN is standing by its view that the offer still undervalues the business.
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