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Britain's Melrose raises GKN bid to $11.2 billion in final offer

Reuters  |  LONDON 

By Sarah Young and Ben MartinLONDON (Reuters) - Melrose Industries increased its hostile offer for GKN by around 10 percent to 8.1 billion pounds ($11.2 billion), trying to win over investors after the British engineering firm struck a rival deal of its own last week. GKN's board unanimously rejected the new bid on Monday saying it continued to fundamentally undervalue the company. But Melrose declared its sweetened offer as "final", meaning it cannot improve the terms further under British takeover rules. As a result, GKN shareholders must choose between the bid and the engineer's own ...

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First Published: Mon, March 12 2018. 22:55 IST
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