Advertisement
UK markets closed

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • HANG SENG

    17,284.54
    +83.27 (+0.48%)
     

  • CRUDE OIL

    82.50
    -0.31 (-0.37%)
     

  • GOLD FUTURES

    2,340.90
    +2.50 (+0.11%)
     

  • DOW

    37,921.26
    -539.66 (-1.40%)
     

  • Bitcoin GBP

    51,250.12
    -563.74 (-1.09%)
     

  • CMC Crypto 200

    1,385.79
    +3.22 (+0.23%)
     

  • NASDAQ Composite

    15,488.42
    -224.33 (-1.43%)
     

  • UK FTSE All Share

    4,387.94
    +13.88 (+0.32%)
     
Stocks:

Trending tickers

Microsoft, Alphabet, Anglo American, IBM, Astrazeneca, Unilever and Sainsbury's

GKN calls Melrose's hostile offer statement "misleading"

Reuters - UK Focus

Jan 18 (Reuters) - GKN (Frankfurt: 694194 - news) called Melrose (LSE: 136541.L - news) 's unsolicited offer statement "misleading", a day after it swiftly rejected the turnaround specialist's 7.4 billion pound ($10.2 billion) hostile offer for the British engineering company. "GKN's Board considers 32 percent to be a fake premium. Melrose's market capitalisation on 5 January was significantly smaller than GKN's on the same day ... and Melrose brings no industrial synergies," it said on Thursday.

($1 = 0.7238 pounds) (Reporting by Noor Zainab Hussain in Bengaluru, Editing by Paul Sandle)