Melrose

Melrose Industries has separated one of GKN's two defined benefit (DB) schemes into four sections allocated to the aerospace and automotive segments of the business, according to its half year results.

Turnaround company Melrose Industries is seeking to insure the benefits of one of the GKN pension schemes it took on when acquiring the aerospace business earlier this year, according to reports.

This week's top stories included The Pensions Regulator writing to 14 pension schemes, questioning the values they were giving to members seeking to transfer out.

Melrose Industries has postponed the sale of one of its American subsidiaries from which some proceeds were earmarked for the GKN pension schemes.

The Pensions Regulator (TPR) has revealed it had nine meetings with the pension fund trustees of GKN from April 2016 to March 2018.

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.

The government has pressed Melrose to make a series of binding commitments, including for pensions, over its hostile £8.4bn final takeover bid for GKN.

This week's top stories included coverage of the much-anticipated defined benefit (DB) white paper and the sector's reaction.

GKN has slammed Melrose for making 'misleading' comments relating to the engineering giant's two UK defined benefit (DB) schemes.

Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.