March 19, 2018 / 7:13 AM / 4 months ago

Melrose pledges to inject 1 bln stg in GKN pension scheme

LONDON, March 19 (Reuters) - Melrose, the turnaround specialist trying to buy British engineering firm GKN , said it would inject about 1 billion pounds ($1.39 billion) into GKN’s pension scheme, its latest attempt to convince shareholders to back its offer.

“The proposal we have made to the trustees of up to 1 billion pounds of contributions under our ownership is a clear example of what Melrose does which is good for pensioners and shareholders alike and shows we are a good custodian for all stakeholders,” Melrose said in a statement on Monday. ($1 = 0.7179 pounds) (Reporting by Sarah Young; editing by Michael Holden)

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