Melrose raises GKN offer to £8.1bn

Christopher Miller, chairman, Melrose
Turnaround specialist Melrose has upped the stakes in its hostile takeover of engineering group GKN by increasing its offer for the Redditch-based group. Alcester-based Melrose had bid £7.4bn to acquire the business but in a letter to GKN shareholders today, the company said it was increasing this offer to a final £8.1bn. The move is seen as last-ditch effort to convince GKN shareholders that it is the best home for the group and to undermine a £4.4bn deal announced by GKN on Friday which would see its Driveline division subs... You can carry on reading 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...