January 18, 2018 / 7:51 AM / 7 months ago

GKN calls Melrose's hostile offer statement "misleading"

Jan 18 (Reuters) - GKN called Melrose’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

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