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GKN Says Board Unanimously Rejects Melrose Offer

Wednesday, 17 Jan 2018 05:32am EST

Jan 17 (Reuters) - Gkn Plc ::REJECTION OF MELROSE OFFER.‍BOARD STATED THAT PROPOSAL WOULD MATERIALLY DILUTE EXPOSURE OF GKN SHAREHOLDERS​.‍WOULD MATERIALLY DILUTE EXPOSURE OF GKN SHAREHOLDERS TO MEANINGFUL UPSIDE OPPORTUNITIES THAT BOARD BELIEVES ARE PRESENT WITHIN GROUP​.GKN'S BOARD UNANIMOUSLY REJECTED BECAUSE IT FUNDAMENTALLY UNDERVALUED GKN.​.‍NEW MANAGEMENT, CHIEF EXECUTIVE ANNE STEVENS AND GROUP FINANCE DIRECTOR JOS SCLATER, ARE CURRENTLY UNDERTAKING A SERIES OF SHAREHOLDER MEETINGS​.‍TERMS OF THIS OFFER ARE EFFECTIVELY UNCHANGED FROM MELROSE'S UNSOLICITED PROPOSAL​.

Trustees of the GKN Pension Scheme Comment On Proposed Melrose Deal

Tuesday, 16 Jan 2018 07:15am EST

Jan 16 (Reuters) - GKN Plc ::GKN PENSION SCHEME TRUSTEES - "TRUSTEES ARE CONCERNED THAT ANY POTENTIAL PURCHASER OF GKN SHOULD BE AWARE OF RECENT FUNDING POSITION OF SCHEMES".GKN PENSION SCHEME TRUSTEES - "SCHEMES HAD AN AGGREGATE DEFICIT ON A GILTS FLAT BASIS OF £1.1BN, AGGREGATE DEFICIT ON A SOLVENCY BASIS OF £1.9BN".GKN PENSION SCHEME TRUSTEES - "ANY MATERIAL CHANGE TO CORPORATE AND CAPITAL STRUCTURE OF GKN WOULD LEAD TRUSTEES TO REASSESS STRENGTH OF COVENANT GOING FORWARD".GKN PENSION SCHEME TRUSTEES- "EXPECT FULL ENGAGEMENT WITH MANAGEMENT AND WITH ANY RELEVANT THIRD PARTIES".GKN PENSION SCHEME TRUSTEES - "SCHEMES ARE VERY SUBSTANTIAL STAKEHOLDERS IN BUSINESS WITH SIGNIFICANT LEVEL OF RELIANCE ON THE STRENGTH OF GKN COVENANT".

Texmaco Rail & Engineering Looking To Set Up Logistics Hub Cum Food Park In West Bengal

Tuesday, 16 Jan 2018 06:59am EST

Jan 16 (Reuters) - Texmaco Rail & Engineering Ltd ::EXPLORING OPPORTUNITY FOR SETTING UP LOGISTICS HUB CUM FOOD PARK IN WEST BENGAL.

Xuzhou Handler Special Vehicle sees FY 2017 net profit up about 64.06 pct to 81.04 pct

Tuesday, 16 Jan 2018 01:38am EST

Jan 16(Reuters) - Xuzhou Handler Special Vehicle Co Ltd <300201.SZ>:Sees FY 2017 net profit to increase by about 64.06 percent to 81.04 percent, or to be 145 million yuan to 160 million yuan .Says FY 2016 net profit was 88.4 million yuan .Says increased income from special vehicle, LED intelligent control and intelligent equipment business is the main reason for the forecast.

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