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Hi Does anyone know when Melrose will distribute the shares. Nothing showing on hl platform. Thanks
You nailed it, that is still true today and they all know it. Welcome Melrose come and save us.
Sorry, but just brought in for a nice easy profit. Selfish but that�s life
As an ex employee and. Long time share holder the culture of the lower management stinks they far too often are in positions they are incapable of doing; all structures of lower managers needs an overhaul; and lead by example not fear
I hope more U.K listed company fat cats get sacked like this, Melrose can inspire similar hostile takeovers. We need managers running businesses not useless execs, independent directors and crap bastards who just keep getting paid for nothing. We need a different management structure......pure managing director jobs along with other expert managers. I don�t like CEOs and CFOs.......overpaid ar se ho les!
Quite right. A fat, moribund, useless,lazy and overpaid senior management team who have deservedly lost their jobs. MRO will do a far better job than this team could ever had done. The MRO team are entrepreneurs, not greasy pole climbing, jumped-up pencil pushers. Well done Melrose.
Anne Stevens you said that powder metallargy wasnt the future, what about additive manufacturing that fits into both aerospace and automotive, as GKN produce titanium powder blends would that not future proof the organisation,!!! what a narrow minded view you have
Well done the GKN board for nto listening to Adam Walker and lettin gthe chaiman overule the rest of the board, your going to be responsible for a lot of job losses you dicks
If she has she hasnt put her out of office on
Perhaps Stevens has gone to the US to talk to Dana?
GKN is a classic case of how a dud chairman can set a business back years. Turner has been hopeless so it's no wonder the company had no strategy, useless management, and slapdash accounting. Now the management proposes to repackage the Melrose proposals and slot itself into the jumbo payout seats, with less arduous conditions. For liquidating the company it's supposed to be running? This is very unprincipled stuff. Apparently, after giving all the unsubstantiated quotes to the weekend press, Stevens took off for Easter in the US. This is what we have all got used to at GKN - they're not even at the wheel, let alone asleep at it. It would be unconscionable for this lot to still be in charge after Easter.
Afternoon, MalcomB, might just be a typo, but my letter via HL is 1.69 shares + 81p.
Maybe maybe not. I have owned Melrose shares since ca 2008 I think just after the financial crisis. Have made a lot of money out of that investment and consider the company a core part of my portfolio. I believe they have strong discipline on not over paying for companies they are after. Maybe they have left themselves some contingency in their deal model to up the offer maybe not,
Seems to me that Melrose is determined to get GKN no matter what. Could this be a tussle and higher bid for the company, I wonder?
Hi Yorkshire Bloke I seem to have the same Barclays letter with three options and if you go into your portfolio it says that if you do nothing they will impose the default option which is to accept option 1 (1.49 Melrose shares and 81p cash) I am not happy with this and propose to talk to Barclays. My preferred option is do nothing and hope a better bid comes along (as 50glass says you lose nothing that way) - this is what I will do with the few shares I still hold in certificated form
Hi. Thanks. At what point would i be considered as to having pledged my shares to Melrose though? Presumably this would occur if i selected one of the 3 ootions barclays is giving me? So therefore id be best doing nothing for now?
Got to be £5 a share but the current sp will fall as there is zero confidence in the current "management team". No takeover back to sub £3 . Let's all pray hard for takeover
You are free to sell unless you pledge your shares to Melrose. Personally, I'm not responding to any request to make a decision as there may be a higher bid, late in the day, from another party. If I refuse to sell and then the sale goes ahead the chances are my shares will be compulsory purchased so I've lost nothing by not making a decision. Of course if the Melrose bid lapses, ifs they are unable to secure a majority of GKN shares, then the GKN sp will probably fall. The real fun starts if Melrose up their bid, in rersponse to a bid from another party.
Hi. My Barclays account is asking me to make a decision regarding which option I take regarding the unsolicited offer from Melrose. Has everyone else had this? What happens if I don't chose. Am I still ok to sell my shares if i wish? Thanks
i am hoping for a rebid looking for 500 then i am out .
Hold on to your shares. Buy.
The board have rejected the bid. Shareholders have yet to be asked
Engineering giant GKN has rejected a �7.4bn hostile takeover bid from Melrose Industries.
OMG yesterday I was 4K down today I am well up. Will hold as I believe this could well be only the start.... IMHO....GLA
I plan on sitting tight. It was bought as a long term hold so unless they start announcing huge losses ill hold.