February 1, 2018 / 8:40 AM / 10 months ago

BRIEF-GKN PLC's Board Unanimously Recommends That GKN Shareholders Reject Melrose Offer

Feb 1 (Reuters) - GKN Plc:

* MELROSE IS NOT RIGHT OWNER FOR GKN

* ‍CONTINUES TO VIEW OFFER AS “ENTIRELY OPPORTUNISTIC AND BELIEVES THAT ITS TERMS FUNDAMENTALLY UNDERVALUE GKN AND ITS PROSPECTS​”

* ‍BOARD UNANIMOUSLY RECOMMENDS THAT GKN SHAREHOLDERS REJECT OFFER AND TAKE NO ACTION​

* ‍”MELROSE HAS VERY LIMITED EXPERIENCE AT BOARD LEVEL OF MANAGING TIER 1 AEROSPACE AND AUTOMOTIVE SUPPLIERS​” Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below