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
-
Corporate manslaughter penalty increased to £20m
Sentencing body sets new guidelines for corporate manslaughter fines after past penalties considered too weak.
-
Amended Shareholder Rights Directive implemented
An amendment to the EU Shareholder Rights Directive aims to encourage effective and sustainable shareholder engagement in listed companies in EU member states.
-
EU agrees measures to stamp out VAT fraud
EU member states have agreed to collaborate on closing EU tax loopholes, such as information sharing and cooperation between national tax authorities and law enforcement authorities.
