GKN PLC (GKN.L)
20 Feb 2018
LONDON Britain's financial sector will be "the servant of industry not the masters of us all" if the opposition Labour Party gets into power, its leader Jeremy Corbyn will say on Tuesday, accusing bankers of taking the economy hostage.
* SENIOR INDEPENDENT DIRECTOR, RICHARD PARRY-JONES INDICATED HE WISHES TO STAND DOWN FROM ROLE, WHILE REMAINING CHAIRMAN OF REMUNERATION COMMITTEE
LONDON, Feb 19 British Prime Minister Theresa May said she would act in the national interest when asked for her reaction to a hostile takeover bid of aero-engineer GKN by Melrose.
The 7.4 billion pound ($10.4 billion) hostile bid for British engineering group GKN from Melrose Industries is "low price and high risk" and undervalues the company, GKN Chairman Mike Turner said in a letter to shareholders.
* GKN shares up 1.9 pct (Adds Melrose response, context, updates shares)
* MELROSE WILL BE WRITING TO GKN SHAREHOLDERS IN DUE COURSE WITH ITS DETAILED RESPONSE.
Feb 15 The 7.4 billion pound ($10.4 billion) hostile bid for GKN from Melrose Industries is "low price and high risk" and undervalues the company, GKN Chairman Mike Turner said in a letter to shareholders.
* PUBLISHES ITS RESPONSE CIRCULAR IN CONNECTION WITH UNSOLICITED OFFER MADE BY MELROSE INDUSTRIES PLC
British engineering group GKN , stepping up its efforts to fend off a hostile takeover bid, pledged on Wednesday to return 2.5 billion pounds ($3.5 billion) to investors over the next three years.
* GKN has rejected 7.4 billion pound Melrose bid (Adds comments from Melrose, analysts, more context, updates shares)