Government considers intervention in Melrose bid for GKN
Ministerial concern at the potential sale of jet fighter components producer GKN to investment company Melrose will see the deal investigated—including whether the deal should be blocked.
GKN Bristol
Sentiment for government intervention in a takeover has arisen, as the detail behind the proposed takeover of UK engineering business GKN by investment firm Melrose Industries is investigated.
GKN, whose technology sits on the F-35 Lightning II fighter jet, is the focus of a £7bn bid by FTSE 250-listed "turnaround" business Melrose. GKN's work in providing parts for jet fighters in the UK and across the world has heightened sensitivity to the potential deal.
UK defence secretary Gavin Williamson told the defence select committee yesterday that he had written to business secretary Greg Clark of “very serious concerns” about the deal
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda
Related Stories
-
FTSE 100 falls short on reporting under Modern Slavery Act
Analysis of modern slavery statements from FTSE 100 companies reveals none have achieved the highest standards of disclosure.
-
Take part in the European corporate culture survey
A partnership between Board Agenda, Mazars and INSEAD aims to uncover how companies embed corporate culture, how it is monitored and whether the links between culture and performance are understood.
-
Shareholder body advises vote against Tesco chairman
PIRC expresses concern over John Alan occupying the chairman's role at both Barratt Developments and Tesco.
