Melrose Industries PLC (MRON.L)
21 Sep 2018
Fri, Apr 27 2018
* NOW ACQUIRED, UNCONDITIONALLY CONTRACTED TO ACQUIRE OR RECEIVED VALID ACCEPTANCES OF OFFER IN RESPECT OF MORE THAN 90 PERCENT OF VALUE OF GKN
LONDON Britain's business minister said there were no national security grounds to intervene in turnaround specialist Melrose's takeover of UK engineering company GKN , giving the deal the green light from government.
* GKN QUARTERLY SALES 2.599 BILLION STG VERSUS 2.611 BILLION STG YEAR AGO
* MELROSE'S OFFER FOR GKN HAS BECOME UNCONDITIONAL IN ALL RESPECTS
* MELROSE INDUSTRIES PLC - MELROSE HAD RECEIVED VALID ACCEPTANCES REPRESENTING APPROXIMATELY 84.97 PER CENT
* ALL OUTSTANDING CONDITIONS TO GKN OFFER, SAVE FOR ADMISSION CONDITION, HAVE NOW BEEN SATISFIED OR WAIVED
* MELROSE HAS RECEIVED VALID ACCEPTANCES REPRESENTING APPROXIMATELY 81.80 PER CENT. OF VOTING RIGHTS OF GKN
* FMR LLC RAISES STAKE IN MELROSE INDUSTRIES PLC TO 9.8 PCT FROM 7.84 PCT Source text for Eikon: Further company coverage:
LONDON Melrose Industries has narrowly clinched an 8 billion-pound ($11 billion) takeover of British engineer GKN , winning an acrimonious three-month battle for control of the FTSE 100 company.
LONDON The opening salvo in what would become a three-month battle for British engineer GKN was fired by Melrose's chief executive over the telephone.
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