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Last post: Sampsun50, 20 Apr 2018 13:43
Hi Does anyone know when Melrose will distribute the shares. Nothing showing on hl platform. Thanks
Started: Sampsun50, 3 Apr 2018 19:17
Last post: Sampsun50, 3 Apr 2018 19:17
Sorry, but just brought in for a nice easy profit. Selfish but that�s life
Started: Heggman, 2 Apr 2018 13:17
Last post: Heggman, 2 Apr 2018 13:17
You nailed it, that is still true today and they all know it. Welcome Melrose come and save us.
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
Started: baronhaussman, 27 Mar 2018 12:16
Last post: H-hi, 31 Mar 2018 16:42
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.
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.
Started: Conkersdeep, 29 Mar 2018 18:07
Last post: Conkersdeep, 29 Mar 2018 18:07
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
Started: Conkersdeep, 29 Mar 2018 17:36
Last post: Conkersdeep, 29 Mar 2018 17:36
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
Started: MalcolmB, 13 Feb 2018 16:55
Last post: Kids_Inheritance, 15 Mar 2018 15:17
Afternoon, MalcomB, might just be a typo, but my letter via HL is 1.69 shares + 81p.
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
Started: aldo2000, 16 Feb 2018 10:44
Last post: aldo2000, 16 Feb 2018 10:44
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,
Started: larryh, 16 Feb 2018 08:10
Last post: larryh, 16 Feb 2018 08:10
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?
Started: YorkshireBloke34, 7 Feb 2018 08:05
Last post: 50glass, 7 Feb 2018 11:46
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
Started: kaimarkall, 18 Jan 2018 12:42
Last post: kaimarkall, 18 Jan 2018 12:42
i am hoping for a rebid looking for 500 then i am out .
Started: Iampilgrim, 18 Jan 2018 07:46
Last post: Iampilgrim, 18 Jan 2018 07:46
Hold on to your shares. Buy.
Started: volcano, 17 Jan 2018 12:46
Last post: 50glass, 17 Jan 2018 18:28
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.
Last post: holycustard, 12 Jan 2018 10:48
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.
So, I guess, sit tight and see how this plays out.....? Anyone have any thoughts on what Melrose might have to pay to nail the t/o?
I completely missed this earlier. Thank you Melrose.
Started: JustChampers, 12 Jan 2018 08:42
Last post: JustChampers, 12 Jan 2018 08:42
Im just enjoying the rise. Hope it lasts.
Rejected t/o, planned restructure and no comments here ? Bold move by MRO though !
Started: Pearls, 16 Nov 2017 09:28
Last post: londoner7, 16 Nov 2017 15:23
Conkersdeep, you misunderstood my opening remark. The FT agrees with you. Not sure about your 2nd point. I'd have thought that the GKN CFO (and team) would examine all sets of accounts for consistancy of accounting. But I'll be delighted in the issues in the US aerospace accounts do not translate to the rest of the group - whatever the reason. Best, Londoner7
Hi Londoner I am right FT is wrong, Hans was initially to take over from Kevin when he became CEO of GKN. This has been brought forward due to Kevins leaving, your speculation regarding the accounts is incorrect as Fokker accounts and GKN aerospace accounts have been seperate and cannot really be compared since they are different products.
Conkersdeep, you might be right - that is how it's reported in FT. But up until about 5 minutes ago, when the page was taken down, KC'c bio listed him as CEO of US aerospace. Hans Butheker was listed as CEO of GKN Focker. He has now been promoted to CEO of GKN aerospace. I don't mean to be petty, but their relative sphere of responsibilty may be an important factor if KC's removal is linked to a failure in US aerospace's accounting. Pure speculation on my part, but perhaps the issues in the working capital accounting in the US accounts were revealed in a comparison with Focker accounts. If there is a 3rd shoe to drop I guess it will come with the finals, although GKN have been quick to report on their findings. To another posters point, I'm more relaxed about the possibility of any upheaval while the leadership role is resolved. In the short to medium term I believe the day to day business of industrial production will contine unabated. But of course the stock market may see it differently. Londoner7
No, he was in charge of the whole aerospace organisation not just the US
Pearls, I agree these issues can take time to come out. I took a modest profit on my opening stake. Looking at this morning's update I agree with gurney on the board shakeup. The CEO designate was in charge of US aerospace so is taking the can for the latest accounting issues that were uncovered. Seems a sensible move. I would like to think that all parts of the business has now undergone a similar review - I repeat, I'd like to think so! I also find it encouraging that they haven't amended their trading guidance one month on from the last update. So based on that I've decided to reinvest my returns for a 2nd leg. Can I be fortunate again? I hope so because another trade of mine isn't doing so well. Londoner7
Started: AL75, 16 Nov 2017 10:22
Last post: oldbadger, 16 Nov 2017 12:13
No problem Al75 I can solve that third problem for you. " my back was sore this morning when I got up" I think your probably right though more bad stuff to come! Not quite in the CLLN league mind you, well I cerainly hope not. D.
Problem one came a month ago Problem two came today Things come in threes...
Started: YorkshireBloke34, 16 Nov 2017 08:29
Last post: gurney07, 16 Nov 2017 09:03
Good morning, I think the culprit has been replaced, but it is time the "Old school tie" was looked at closely. No doubt the person concerned will leave with all the shares accumulated paid all dues etc. and go on to some other Board of another company, (like politicians do) The amount in cash lost against the Market Cap is small but the shake in confidence and the time ie should take to replace this muppet will cause a lot of "disquiet" to the Board.
So much for investing in a nice steady company. Were they not only expecting a 40 mil write off the ither week, which dopey fool got it so wrong.
Last post: londoner7, 27 Oct 2017 10:52
There has been talk of a split for years usually fuelled by investment bankers looking for a cut. I don't think the recent trading update is a game changer so I�m not invested on that basis. Is supplying parts to the likes of Airbus or Volkswagen really so different? Londoner7
bottoming out atm.?
Started: QueenElvis, 23 Oct 2017 08:59
Last post: QueenElvis, 23 Oct 2017 08:59
Started: Pearls, 19 Oct 2017 18:11
Last post: Pearls, 19 Oct 2017 18:11
Londoner 7 - good comment. I think there has been a material knock to shareholders confidence here, and purely from a chartist view, can see this stock heading back to the �2.70 level perhaps that it traded at for a while in 2016. This is a large ponderous company and it will take them time to deal with the issues. As commented before, there is no need yet to buy more stock as the share price is likely to dip below �3 for some period of time.
Started: londoner7, 19 Oct 2017 14:54
Last post: londoner7, 19 Oct 2017 14:54
I believe the aerospace supply chain is coming through an unusual transition period with significant upgrades to the workhorses of the sky supplied by Boeing and Airbus. The aerospace market generally has a level of growth going out more years than almost any market I can think of with few disruptors on the horizon. Perhaps hyperIoop and spacecraft will impact in decades to come but not in my investment time horizon. I returned to this market earlier in the year with an investment in Senior, because I know it well from the previous cycle, but I�ve also followed GKN over many years for additional insight into the market. The recent trading update from GKN prompted me to consider an investment in GKN. Listening to the Q&A audio call it seems to me that the nature of the claims is not unusual for the industry, but the scale clearly warranted an RNS. While management assured the claims are not systemic of a wider problem it must be a worry that two similar scale claims arise at the same time. As an investor in Senior I was pleased to hear that the claims and Q3 margin pressures are company specific. However, it seems to me that these pressures only represent a delay in achieving margin targets. The affirmation that profits will still be ahead of last year indicate a current and prospective PE below 10. Alongside a dividend yield of 3% this looks like a tempting entry point. While I don�t expect 300p to be a floor at the current time I�ve decided it�s a suitable level to open a stake, while building my knowledge of the company. Unless the latest reported problems are systemic I expect to be adding to my stake on further updates. I think this talk of insurance is overblown. We have a �40m claim on a �5.2B company. Many facets of the business require insurance, but I�d hate to think that any significant management time is taken weighing the merits of insurance on the minutiae of the business. Modern business already supports too many parasites - no doubt a factor in the lack of productivity growth we hear so much about. Londoner7
Last post: Pearls, 18 Oct 2017 21:50
My point simply is that of course they will have the mandatory insurance, but probably due to budgetary short term cutbacks, little more than this. As a result, they seem to have been badly prepared and let's face it, their latest update hardly instilled confidence in management did it? Management need to understand that whilst certain things may need to be kept commercially secret, it is not acceptable for shareholders to be kept so poorly informed and for management to remain in place regardless. Whoever is responsible for this mess should leave GKN. As I pointed out before, this is a great British company - it is a shame it is not being run now in the manner it was run in more glorious days........
Started: Supercharger, 17 Oct 2017 00:22
Last post: Supercharger, 17 Oct 2017 00:22
They will;have Insurance in place believe me, they will be Statutory liable for certain types of Liability particularly in the Aerospace Industry and they will have to have arranged Insurance to operate and have licences to operate in certain Countries and States in the World where the Laws are very stringent. I feel that the reason for non disclosure is that the terms of their Insurance Policies are such that they will need to allow Insurers control of the negotiation. Insurers are very experienced in such matters and will have access to the best and most qualified for the claims in question. The fact on the non disclosure gives me a greater comfort that there are Insurances in place.