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Aviva Investors backs Melrose's improved takeover offer for GKN

Reuters - UK Focus

LONDON, March 12 (Reuters) - Aviva Investors, which is a shareholder in both bid target GKN (Frankfurt: 694194 - news) and its suitor Melrose Industries (Frankfurt: 27MA.F - news) , has come out in support of the turnaround specialist's takeover of the British engineer.

"We believe the interests of shareholders in both companies are best served by accepting Melrose (LSE: 136541.L - news) 's raised bid," David Cumming, Aviva Investors' chief investment officer for equities, said in a statement to Reuters on Monday.

It comes after Melrose hiked its cash-and-shares offer for GKN and declared its bid final. (Reporting by Ben Martin, editing by David Evans)