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Melrose pledges to inject 1 bln stg in GKN pension scheme

Reuters - UK Focus

LONDON, March 19 (Reuters) - Melrose (LSE: 136541.L - news) , the turnaround specialist trying to buy British engineering firm GKN , said it would inject about 1 billion pounds ($1.39 billion) into GKN (Frankfurt: 694194 - news) 's pension scheme, its latest attempt to convince shareholders to back its offer.

"The proposal we have made to the trustees of up to 1 billion pounds of contributions under our ownership is a clear example of what Melrose does which is good for pensioners and shareholders alike and shows we are a good custodian for all stakeholders," Melrose said in a statement on Monday. ($1 = 0.7179 pounds) (Reporting by Sarah Young; editing by Michael Holden)