UK And US Companies Fight Over Engineering Giant

3 months ago

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Image Credit: GKN/BBC

Engineering giant GKN is trying to agree an amicable, mutually beneficial merger deal with American firm Dana.

Another American company, Melrose Industries, is interfering - because it wants GKN for itself.

Melrose have made numerous offers and buyout attempts, all of which have been comprehensively rejected.

As of this week, they have launched a hostile takeover bid, in an attempt to seize the company from its owners.

UK MPs are deeply concerned by the takeover battle, with some calling for the government to intervene and block the bids.

GKN make parts for the Boeing 737 and Black Hawk helicopters, as well as some Volkswagen and Ford cars - so this matters.

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