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Britain's Melrose Industries ups 'final' offer for GKN to $11.2 bn

Melrose said the latest offer, up from its earlier proposal of 7.4 billion pounds, was final and would not be increased

Reuters  |  London 

Melrose Industries increased its hostile offer for GKN to 8.1 billion pounds on Monday by boosting the equity element of the offer, appealing to investors after the British engineering firm struck a rival deal of its own last week. Melrose, a UK-based turnaround specialist, said on Monday that GKN investors would receive 81 pence in cash for every GKN share they hold, plus 1.69 new Melrose shares under its offer, upping the equity part of the deal from 1.49 new Melrose shares. Melrose said the latest offer, up from its earlier proposal of 7.4 billion pounds ($10.3 billion), was ...

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First Published: Mon, March 12 2018. 17:31 IST
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