It is a company that dates back to Britains industrial revolution: an ironworks in south Wales that started in 1759 and supplied the tracks for Brunels Great Western Railway. It has become, as GKN, a global engineering giant supplying car and aerospace parts, employing 60,000 around the world and 6,000 in the UK. But now corporate raiders loom in the form of a controversial £7.8bn hostile bid in which Theresa Mays government has been sidelined, despite its aspiration to develop a new UK industrial strategy.
Bidder Melrose has set a deadline of 1pm on Thursday for GKN shareholders to accept or reject its largely paper-based bid. Insiders describe the situation as finely balanced. Melrose, which is about the fifth of the size, says GKN…
Read the full article at: https://www.theguardian.com/business/2018/mar/24/gkn-unprotected-melrose-hostile-takeover-alone