Tag Archive for GKN

Engineering Giant GKN Rejects £7bn Takeover Bid

Engineering Giant GKN Rejects £7bn Takeover Bid

Stocks in GKN, one of the UK’s biggest executive businesses, have soared after it turned down a bet that values the business at £7bn. Melrose made the unsolicited offer of 405p a show on 8 January. Stocks in GKN, making wing techniques for Airbus planes and parts for Porsche vehicles, shut down more than 26% higher at 420p. Its mother board said the money and shares bet was “entirely opportunistic” and “fundamentally” undervalued GKN. Stocks in Melrose, a developing turnaround organization, also increased sharply, adding 7% to 229p. Takeover guidelines indicate it must make a