GKN attacks Melrose for derisory offer
Engineering giant GKN has again rebutted approaches by potential suitor Melrose, claiming the bid offer for the company is “entirely opportunistic” and fundamentally undervalues the business.
Melrose formally submitted its bid offer of £7.4bn yesterday, accompanied by a letter from the chairman of Melrose to GKN shareholders outlining why they should accept the offer.
The offer, consisting of 337.3p per share in Melrose shares and 81p in cash, represents a total of 418.3p per GKN share.
It has also pledged to invest £15... 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...
