Hostile bid for GKN splits fund managers
A hostile bid for GKN by Melrose Industries shows signs of splitting fund managers with Jupiter’s head of equities against the takeover, while Aviva Investor’s chief investment officer is in favour.
GKN
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GKN pledges £2.5bn to shareholders to keep £7bn takeover at bay
GKN has promised to return £2.5bn in cash to shareholders over the next three years to defend itself against a £7bn hostile takeover from Melrose Industries.
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GKN shares skyrocket after it thwarts £7bn takeover
Shares in FTSE 100 engineering firm GKN hit their highest level in over a decade after it rejected a £7bn takeover from fixer upper specialist Melrose Industries.