Edition:
India

Melrose Industries PLC (MRON.L)

MRON.L on London Stock Exchange

188.00GBp
21 Mar 2019
Change (% chg)

1.60 (+0.86%)
Prev Close
186.40
Open
186.40
Day's High
189.15
Day's Low
184.70
Volume
8,587,716
Avg. Vol
15,335,631
52-wk High
248.80
52-wk Low
145.94

Latest Key Developments (Source: Significant Developments)

Melrose To Sell Walterscheid Powertrain Group For 200 Mln Stg
Wednesday, 6 Mar 2019 

March 6 (Reuters) - Melrose Industries PLC ::SUNDRY DISPOSALS.HAS AGREED TO SELL WALTERSCHEID POWERTRAIN GROUP.COMBINED NET PROCEEDS OF SALES ARE APPROXIMATELY £200 MILLION.SALE OF WALTERSCHEID IS SUBJECT TO CUSTOMARY REGULATORY CONDITIONS AND IS EXPECTED TO COMPLETE IN FIRST HALF OF THIS YEAR.UNIT, FOKKER AEROSPACE B.V, COMPLETED SALE OF ITS MINORITY 43.57% INTEREST IN SOCIÉTÉ ANONYME BELGE DE CONSTRUCTIONS AÉRONAUTIQUES.  Full Article

Melrose Industries Says Trading in Line With 2018 Expectations
Tuesday, 13 Nov 2018 

Nov 13 (Reuters) - Melrose Industries PLC ::MELROSE INDUSTRIES - TRADING STATEMENT.MELROSE INDUSTRIES PLC - MELROSE IS TRADING IN LINE WITH BOARD'S EXPECTATIONS FOR 2018..MELROSE INDUSTRIES PLC - MELROSE IS TRADING IN LINE WITH BOARD'S EXPECTATIONS FOR 2018..MELROSE INDUSTRIES PLC - CONFIDENT GKN BUSINESSES OFFER AN OUTSTANDING OPPORTUNITY FOR VALUE CREATION OVER MEDIUM TERM..MELROSE INDUSTRIES PLC - NET DEBT AND CASH GENERATION ARE IN LINE WITH BOARD'S EXPECTATIONS..  Full Article

Melrose In Talks About Offloading 500 Million Pounds GKN Pension Scheme - Sky News
Friday, 31 Aug 2018 

Aug 31 (Reuters) - :MELROSE IN TALKS ABOUT OFFLOADING 500 MILLION POUNDS GKN PENSION SCHEME - SKY NEWS.MELROSE IS TALKING TO INSURERS INCLUDING AVIVA AND SCOTTISH WIDOWS ABOUT TAKING ON ONE OF GKN'S PENSION SCHEMES - SKY NEWS.  Full Article

Melrose says that U.S. authority CFIUS clears its takeover of GKN
Monday, 25 Jun 2018 

June 25 (Reuters) - Melrose Industries PLC ::MELROSE ANNOUNCES THAT CLEARANCE FROM COMMITTEE ON FOREIGN INVESTMENT IN UNITED STATES ("CFIUS") IN RESPECT OF ITS OFFER FOR GKN HAS BEEN OBTAINED.CFIUS HAS CONCLUDED ITS REVIEW AND HAS DETERMINED THAT, BASED ON ITS INVESTIGATION, THERE ARE NO UNRESOLVED NATIONAL SECURITY CONCERNS..  Full Article

GKN quarterly sales drop 0.5 pct to 2.6 bln stg-Melrose
Tuesday, 24 Apr 2018 

April 24 (Reuters) - Melrose Industries PLC ::GKN <<>> QUARTERLY SALES 2.599 BILLION STG VERSUS 2.611 BILLION STG YEAR AGO.TRADING UPDATE FOR GKN PRIOR TO MELROSE OWNERSHIP.GKN GROUP SALES IN PERIOD WERE £2,599 MILLION (2017: £2,611 MILLION).GROUP OPERATING PROFIT WAS £181.5 MILLION (2017: £215.1 MILLION).GROUP OPERATING PROFIT MARGIN WAS 7.0% (2017: 8.2%).GKN PLC PERFORMANCE IN PERIOD BEFORE MELROSE OWNERSHIP SHOWED TRENDS BELOW CURRENT MARKET EXPECTATIONS FOR GKN FOR PROFIT AND CASH GENERATION.WHILE THIS GIVES MELROSE A LOWER STARTING POINT FOR GKN THAN CURRENT MARKET CONSENSUS OPINION, MELROSE ALLOWED FOR FURTHER UNDERPERFORMANCE BY GKN PRIOR TO ITS OWNERSHIP.REMAINS CONFIDENT IT WILL BE ABLE TO DELIVER ON ALL STATEMENTS IT MADE DURING OFFER PERIOD OVER MEDIUM TERM.  Full Article

Melrose Says Offer For Gkn Unconditional In All Respects
Thursday, 19 Apr 2018 

April 19 (Reuters) - Melrose Industries Plc ::OFFER FOR GKN UNCONDITIONAL IN ALL RESPECTS.MELROSE'S OFFER FOR GKN HAS BECOME UNCONDITIONAL IN ALL RESPECTS.ALL MEMBERS OF BOARD OF GKN HAVE RESIGNED FROM BOARD OF GKN PLC AS OF APRIL 19.  Full Article

Melrose Says Received Valid Acceptances Representing About 84.97 Pct Of GKN Voting Rights
Wednesday, 18 Apr 2018 

April 18 (Reuters) - Melrose Industries PLC ::MELROSE INDUSTRIES - UPDATE RE MELROSE OFFER FOR GKN.MELROSE INDUSTRIES PLC - MELROSE HAD RECEIVED VALID ACCEPTANCES REPRESENTING APPROXIMATELY 84.97 PER CENT.MELROSE - AS AT 12.00 P.M. RECEIVED VALID ACCEPTANCES OF ITS OFFER IN RESPECT OF 1.46 BILLION GKN SHARES, REPRESENTING ABOUT 84.97% OF VOTING RIGHTS OF GKN.  Full Article

Melrose Industries Says Received Valid Acceptances Of About 81.80 Pct Of Voting Rights Of GKN
Tuesday, 17 Apr 2018 

April 17 (Reuters) - Melrose Industries::STATEMENT RE OFFER UPDATE.MELROSE HAS RECEIVED VALID ACCEPTANCES REPRESENTING APPROXIMATELY 81.80 PER CENT. OF VOTING RIGHTS OF GKN.MELROSE EXPECTS THAT OFFER WILL BECOME WHOLLY UNCONDITIONAL BY NO LATER THAN 19 APRIL 2018..  Full Article

UK Govt Has "Statutory Responsibility" To Consider Whether GKN-Melrose Merger Gives Rise To Public Interest Concerns - Business Secretary‍​
Thursday, 29 Mar 2018 

March 29 (Reuters) - UK Business Secretary Greg Clark: :"DURING BID, MELROSE MADE COMMITMENTS WHICH THEY ARE BOUND TO HONOUR INCLUDING INVESTMENT IN RESEARCH AND DEVELOPMENT, MAINTAINING ITSELF AS UK BUSINESS" ‍​.GOVERNMENT HAS STATUTORY RESPONSIBILITY TO CONSIDER WHETHER GKN-MELROSE MERGER IN PROPOSED FINAL FORM GIVES RISE TO PUBLIC INTEREST CONCERNS .ASSESSMENT ON WHETHER MERGER GIVES RISE TO PUBLIC INTEREST CONCERNS WILL BE MADE BY APPROPRIATE AUTHORITIES.CONCLUSION ON ASSESSMENT ON WHETHER MERGER GIVES RISE TO PUBLIC INTEREST CONCERNS WILL BE SET OUT IN DUE COURSE .  Full Article

Melrose Agrees With Panel On Post-Offer Undertakings On GKN Deal
Tuesday, 27 Mar 2018 

March 27 (Reuters) - Melrose Industries Plc ::CONFIRMS THAT IT HAS TODAY AGREED WITH PANEL FORM OF FOLLOWING LEGALLY BINDING POST-OFFER UNDERTAKINGS (POUS).CONFIRMS IT AGREED WITH PANEL FOR UNDERTAKING FOR PERIOD OF 5 YRS TO MAINTAIN MELROSE GROUP HEADQUARTERS IN UK.AN UNDERTAKING FOR FIVE YEARS TO MAINTAIN LISTING OF MELROSE'S SHARES ON OFFICIAL LIST AS MAINTAINED BY UKLA.POU INCLUDES UNDERTAKING FOR FIVE YEARS THAT NO DIRECTOR WILL BE APPOINTED OR REAPPOINTED, OR RECOMMENDED TO BE APPOINTED OR REAPPOINTED.UNDERTAKING CO WILL PROCURE THAT EXPENSED RESEARCH AND DEVELOPMENT SPEND OF GKN DURING JAN 1 2019 TO DEC 31 2023 WILL BE AT LEAST 2.2 PERCENT OF AGGREGATE GKN SALES.  Full Article

UPDATE 2-GKN deal boosts Melrose's profit, eases economy worries

* Shares rise as much as 6 pct to top FTSE-100 (Adds Chairman, analyst comments, shares, background)