© Reuters. SUCCESS OF The HOSTILE TAKEOVER bid FROM MELROSE ON THE BRITISH GROUP GKN
(Reuters) – A hostile offer of $ 7.9 billion pounds (9 billion euros) of Melrose Industries, in cash and in securities, GKN (LON:GKN) has attracted 52.4 per cent of the capital of the british group of engineering, the title of which climbs in the stock Exchange on the announcement.
The TAKEOVER of the specialist recovery companies password as well just, Melrose having fixed 50%, plus one share, the minimum threshold to proceed with the redemption of GKN. Its offer should become unconditional by 19 April.
The action GKN takes 8,89% to 460,30 pence in the end of the session of the London stock Exchange, while the title Melrose gains of 2.82%.
(Ben Martin, Juliette Rouillon for the French service)
