Tuesday, 25 September, 2018

Melrose increases offer for GKN to £8.1bn

The stand-off continues The stand-off continues
Laurie Berry | 12 March, 2018, 12:34

Melrose Industries has sweetened its hostile takeover offer for GKN, valuing the British engineering group at £8.1 billion.

In a letter to GKN shareholders, Melrose chairman Christopher Miller criticised its takeover target's management team for refusing to hold discussions over the offer and slammed recent moves by GKN to sell its Driveline business. It has offered to give back £2.5bn to shareholders and agreed to merge its vehicle unit with United States company Dana.

S. company Dana Incorporate, offering GKN shareholders a 47.25 percent stake in the enlarged, U.

As of 08:11 GMT, GKN's share price had added 1.75 percent to 442.70p, outperforming the benchmark FTSE 100 index which now stands 0.18 percent higher at 7,237.72 points.

It has also raised the amount GKN shareholders would own in Melrose following the deal from 57% to 60%.

GKN has fought hard against the approach from Melrose, a firm that specialises in buying up industrial companies it believes are undervalued and restructuring them before selling them on.

Taylor Swift's 'Delicate' Music Video is Here!
The symbolism in the video is clear and it effortlessly showcases the storyline of the anxiety-ridden track. Joseph Kahn reunites with Swift as her director in this sad but hopeful music video.

GKN said in a short statement that its board was now evaluating the revised offer, and that shareholders were advised "not to sign any document which Melrose or its advisers send to them".

It has gone directly to shareholders with its offer because, it said, the GKN board continued to refuse any "constructive discussions".

GKN shares rose almost 2% to 442p in early trading on Monday.

Melrose said that the deal with Dana was "ill-thought-through" and would face regulatory hurdles.

The deadline to accept Melrose's increased offer is 1pm on Thursday March 29.

Recommended

  • Microsoft Hoping For Fortnite Cross-Platform Play Between PS4 & Xbox One

    Microsoft Hoping For Fortnite Cross-Platform Play Between PS4 & Xbox One

    In a happy incident back in September previous year , a bug in the game caused players from Xbox One and PS4 play together. The pair of announcements detailed cross-platform play between the PlayStation 4, Mobile, and PC.
    October trailer: Varun Dhawan-Banita Sandhu's emotional saga has got us dreaming

    October trailer: Varun Dhawan-Banita Sandhu's emotional saga has got us dreaming

    The actor has been very protective about Banita and has been giving her all kind of tips for the trailer launch on Monday. He will be seen as a hotel management student who is working in a five-star hotel as part of the trainee programme.
    People want development, not protests: PM

    People want development, not protests: PM

    Wherever officials have worked with people and involved them with the development process, the results are transformative. Modi said good governance, effective implementation of schemes and focussed activities were needed for development.
  • Grateful Guardiola unsure over long-term future at Manchester City

    Grateful Guardiola unsure over long-term future at Manchester City

    "I prefer to play at weekends, when all the teams play", said Guardiola . Everybody and their dog thought Juve would win.
    The Simpsons Showrunner Says OJ Simpson Almost Guest Starred

    The Simpsons Showrunner Says OJ Simpson Almost Guest Starred

    Describing his relationship with Brown Simpson at the time of her death, Simpson said he "loved her but I didn't like her". He says the people who should have unbridled anger are the Goldmans and the Browns, but Chris's outrage is right there.
    Warriors vs. Timberwolves Highlights, Steph Curry and Jordan Bell's Return, Damian

    Warriors vs. Timberwolves Highlights, Steph Curry and Jordan Bell's Return, Damian

    Draymond Green added 10 points, eight rebounds and seven assists, but he had trouble defending Towns down low. Curry missed 11 games in December with the sprained right ankle and injured it again last Friday at Atlanta .
  • First Alert Forecast: Another coastal storm brings more rain and wind

    First Alert Forecast: Another coastal storm brings more rain and wind

    Also, colder air will filter in to the area behind the storm system giving us a chance of wintry mix late Monday. High temperatures will be in the lower 60s, and the rain will continue for the start of the workweek.

    Utd's Rashford not fazed by spell out of team

    Liverpool dominated possession as United sat back for long periods and Eric Bailly's second half own goal set up a tense finish. He is doing well, he has come in and he has got the right mentality and he has shown the manager what he can do.
    Blank printable bracket for men's NCAA Tournament 2018

    Blank printable bracket for men's NCAA Tournament 2018

    While this may be a wide-open tournament, it may be quite hard for anyone to get the best of head coach Tony Bennett's team. March Madness, two words that trigger excitement in sports fans throughout North Carolina and the country, is finally here.
  • Marko Arnautovic shows he cares about West Ham fans

    Marko Arnautovic shows he cares about West Ham fans

    Noble said: "It is hard for me personally because I am a West Ham fan myself and the results affect me more than anyone else". Burnley substitutes allowed some children caught up in the protests to sit on the bench towards the end of the match.
    Jamie Carragher Spits At Taunting Man United Fan & Family

    Jamie Carragher Spits At Taunting Man United Fan & Family

    Tonight, Carragher, 40, posted on Twitter: "Totally out of order and I've apologised personally to all the family this evening". When the teasing continued Carragher spat - hitting the teenager who was in the passenger seat and leaving her in tears.
    Federer wins rain-delayed match

    Federer wins rain-delayed match

    Federer saved a set point in the second-set tiebreaker and advanced to face Filip Krajinovic on Monday. He lost to Chung Hyeon in the Australian Open fourth round in January before undergoing the surgery.

Plane crash in Nepal, casualties feared Plane crash in Nepal, casualties feared Shocking photos taken at the scene of the crash show the extent of the damage to the plane. Following the crash landing by the aircraft, all flights to and from TIA have been halted.

Three terrorists killed in encounter with security forces in J&K Three terrorists killed in encounter with security forces in J&K Reports said restrictions have been put in place in some parts of Srinagar and internet service has been suspended. The government forces have not suffered any damage in the stand-off, police said.

Black Panther 2, End Of MCU Phase 3 Discussed By Marvel Boss It will also be interesting to see the MCU in its pre-Iron Man stage. "We wanted to explore a period before Samuel L. Frankly, as I've said before, finishing these first 22 movies is really all we're thinking about at this point.

Mizzou back in the dance, faces Florida State in NCAA first round Mizzou back in the dance, faces Florida State in NCAA first round The Seminoles' season was one of close wins and close losses, but they're not heading into the NCAA Tournament with much momentum. Still, reaching the NCAA tournament for the second straight year is an accomplishment for Hamilton and his players.

California steel makers say they'll be hurt by Trump's tariffs California steel makers say they'll be hurt by Trump's tariffs GBP is down against the euro following the announcement of the EU's proposed trade plans for the United Kingdom following Brexit. Stating that he wants a lot of steel coming to the US, Trump asserted that he wants it to be "fair".

2018 iHeartRadio Music Awards 2018 iHeartRadio Music Awards The "Pop Off" rapper went on to mention a particular group of people who were always there throughout her success but didn't necessarily want to see her win: her haters.

'We're Not Backing Down' On Tariffs 'We're Not Backing Down' On Tariffs Trump has been railing about this dynamic for decades, and on Monday he showed no sign of backing down from his hard-line stance. Yet, his recent decision to slam tariffs on imported steel and aluminum has stunned the world and rattled stock markets .

Lenovo S5 will present as a "killer" Xiaomi Redmi Note 5 Lenovo S5 will present as a The smartphone features a 5.7-inch display with a resolution of 1440 by 720 pixels and a protective glass function. The price of 2GB RAM and 16GB storage variant of Redmi 5 is CNY 799 which is approximately equal to Rs.7800.

Virginia Tops NCAA Bracket in a Season Marked by Scandal Even the fourth-year coach probably didn't expect Auburn would end its NCAA Tournament drought the way it did, though. The SEC got eight teams into the tournament field overall, trailing only the ACC's 9 for the most by any conference.

Kenya to face England in Vancouver Quarters Kenya to face England in Vancouver Quarters It is the first Kenya has qualified for the Main Cup semi-final since 2016 when they won the Singapore Sevens title. Earlier, Kenya had beaten United States 24-19 in the semi finals thanks to a last minute try from Ouma.

Johnson Will Back Bill Nullifying Trump's Steel, Aluminum Tariffs Johnson Will Back Bill Nullifying Trump's Steel, Aluminum Tariffs Trump may have a point that the trade deficit hurts US manufacturing, especially the steel and aluminum industries. Scott Walker has warned that tariffs could hurt the state's canning and beer industries.

Ireland tops Scotland to clinch 6N title Ireland tops Scotland to clinch 6N title That was Scotland's last gift. "The squeeze you and they hold the ball for long periods of time, they play a good territory game". Scotland finally found their finishing feet however, Kinghorn dotting down acrobatically in the corner.

The UCLA basketball team is going dancing — Selection Sunday The UCLA basketball team is going dancing — Selection Sunday Marshall earned an automatic berth as the Conference USA Tournament champion and is going to its first NCAA Tournament since 1987. Dan D'Antoni's Marshall squad is absolutely rolling right now, and could give the Shockers a reverse dose of Cinderella magic.

Willingdon Wealth Management Buys 862 Shares of Microsoft Co. (NASDAQ:MSFT) The stock has a market capitalization of $718,540.00, a price-to-earnings ratio of 28.63, a PEG ratio of 2.15 and a beta of 1.04. The company's shares were given away at $93 per share worth to an income of some $325,500 on account of Capossela Christopher C.

Thrown away: AP source: Browns trade QB Kizer to Packers Thrown away: AP source: Browns trade QB Kizer to Packers The Browns are going to likely draft with a quarterback with one of their first-round picks, so the move was inevitable. He failed, but while he and the Browns slid toward ignominy, Kizer never complained, pointed fingers or made excuses.