GKN confirms talks to sell off Driveline division
Midlands engineering group GKN has confirmed that it is talks to sells off its lucrative automotive division, Driveline.
The group was forced to make an announcement after reports emerged last night that the Redditch-based group was in talks with US-based Dana Incorporated.
The move could scupper attempts by Alcester-based Melrose to acquire GKN. The turnaround specialist has bid £7.4bn for the company – an offer which GKN has dismissed as seriously undervaluing the business.
In a statement to the markets, GKN said that fo... 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...