GKN shareholders accept £8.4bn Melrose bid

Kim Kaveh
clock
GKN shareholders accept £8.4bn Melrose bid

Melrose Industries' £8.4bn offer has been accepted in today's shareholder vote, which will include injecting up to £1bn cash contributions for its two defined benefit (DB) schemes.

According to an announcement on the London Stock Exchange, as at 1pm today, Melrose received valid acceptances representing 52.4% of voting rights of GKN. Last week, the trustees of GKN's pensio...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions member?

Login

More on Appointments

People Moves: Chair named for FCA/PSR working group

People Moves: Chair named for FCA/PSR working group

Bryan Zhang will chair a new strategic working group recently set up

Professional Pensions
clock 09 August 2022 • 1 min read
Unisys pension schemes select Cardano for FM

Unisys pension schemes select Cardano for FM

The firm was selected earlier this year following a competitive tendering process

Holly Roach
clock 09 August 2022 • 1 min read
David Saunders

Sackers announces seven promotions for 2022

Law firm makes moves across partner, associate director and senior associate roles

Hope William-Smith
clock 02 August 2022 • 1 min read
Trustpilot