GKN suitor says no cause for concern on pensions
The potential suitor to Midlands engineering giant GKN has moved to reassure pension trustees that there is no cause for concern in its approach.
Melrose’s current bid for the GKN group stands at £7.4bn, a figure the Redditch-based group has rejected because it claims the bid substantially undervalues the company.
GKN yesterday told the trustees of its pension fund that the move by Melrose could have a potentially damaging effect on pension arrangements by claiming the level of debt being proposed by Melrose was higher than t... 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...
