GKN board rejects revised £8.1bn Melrose offer
GKN has rejected an increased offer for its business from turnaround specialist Melrose, saying the new offer of £8.1bn still fundamentally undervalues the company.
In a statement to its shareholders, GKN said the Melrose bid did not reflect the value of its world class Aerospace business, which GKN expects to be a significant income generator moving forward.
Under the terms of its strategic review, dubbed Project Boost, GKN proposes splitting off its Drive and Aerospace divisions into two separate companies.
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