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  5. Dana ups cash offer in hotly contested fight for Britain's GKN

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Dana ups cash offer in hotly contested fight for Britain's GKN

Mon, 26th Mar 2018 07:22

LONDON, March 26 (Reuters) - Auto components maker Dana Incsaid on Monday it had agreed to increase its offer forGKN's Driveline business by $140 million in cash as itstepped up its efforts to fight off rival suitor Melrose.

Shareholders have until March 29 to choose Melrose's offerfor the whole company, or back a plan from GKN's management tosplit off the group's auto business and combine it withU.S.-based Dana Incorporated, leaving GKN focused on aerospaceparts.

GKN said under the new proposal it would now receive $1.77billion in cash after deducting $1.0 billion for the transfer ofpension deficit to the combined Dana-GKN Driveline group. Italso plans to return up to 700 million pounds of cash toshareholders as soon as possible.(Reporting by Kate Holton; editing by Guy Faulconbridge)

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22 Mar 2018 18:39

Dana wins supply contracts amidst efforts to merge with GKN unit

March 22 (Reuters) - Auto components maker Dana Inc said on Thursday it would supply front and rear axles for the next generation of Jaguar and Land Rover luxury vehicles in a contract worth has =

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20 Mar 2018 07:55

UPDATE 1-GKN, fighting off Melrose, says pensions safe under its plan

LONDON, March 20 (Reuters) - British engineering company GKN , fighting off a hostile takeover bid from Melrose , said on Tuesday it had a plan in place to protect its pension

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20 Mar 2018 07:19

GKN, fighting off Melrose, says pension safe under its plan

LONDON, March 20 (Reuters) - British engineering company GKN , target of a takeover bid, said on it had a plan in place to protect its pension scheme, as the issue emerged as

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19 Mar 2018 13:05

GKN shareholder Columbia Threadneedle plans to reject Melrose bid

LONDON, March 19 (Reuters) - Columbia Threadneedle, a top 10 shareholder in GKN, plans to reject a takeover offer for the British engineering company from industrial careful a

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19 Mar 2018 07:56

UPDATE 1-Battle for GKN heats up as Melrose, Dana sweeten deals

LONDON, March 19 (Reuters) - The battle for GKN intensified on Monday, with both Melrose and Dana sweetening their proposals, as the clock ticks down to a March 29 takeover a

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19 Mar 2018 07:27

Dana to seek secondary London listing to help win GKN auto deal

LONDON, March 19 (Reuters) - Dana Incorporated, the U.S. company seeking to merge with the auto unit of British engineering company GKN, said it would a a

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19 Mar 2018 07:13

Melrose pledges to inject 1 bln stg in GKN pension scheme

LONDON, March 19 (Reuters) - Melrose, the turnaround specialist trying to buy British engineering firm GKN , said it would inject about 1 billion pounds into GKN's pension

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19 Mar 2018 01:16

PRESS DIGEST- British Business - March 19

March 19 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The made a

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15 Mar 2018 13:02

UPDATE 1-GKN's takeover defence boosted as Airbus voices concerns

* Customer Airbus voices fears over "shorter term" investor * GKN seizes on comments to bolster defence campaign * Bidder Melrose says takes long-term approach to GKN Sarah

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13 Mar 2018 16:12

UPDATE 1-Dana CEO meeting top GKN investors in attempt to fight off Melrose

* GKN investors must choose between Melrose bid, Dana plan * Dana deal would leave GKN less diversified - Moody's * New GKN-Melrose spat breaks out over with

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13 Mar 2018 13:48

Dana CEO meeting top GKN investors in attempt to fight off Melrose

By Ben Martin LONDON, March 13 (Reuters) - The chief executive of U.S. firm Dana Incorporated is in London meeting top in a to

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12 Mar 2018 16:47

BRIEF-Trade Union Unite Asks GKN Shareholders To Reject Melrose Bid

March 12 (Reuters) - Gkn Plc: * TRADE UNION UNITE- URGES GKN SHAREHOLDERS TO REJECT LATEST TAKEOVER BID FROM MELROSE * TRADE UNION UNITE- WILL BE MEETING MELROSE TO DISCUSS ITS BID

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12 Mar 2018 15:40

Britain's GKN rejects Melrose $11.2 bln final offer

March 12 (Reuters) - GKN rejected Melrose Industries' increased and final 8.1 billion pounds ($11.2 billion) offer for the British engineering firm, saying the turnaround was no

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12 Mar 2018 07:51

UPDATE 1-UK Stocks-Factors to watch on March 12

March 12 (Reuters) - Britain's FTSE 100 index is seen opening up 8 points higher at 7,233 on Monday, according to financial bookmakers, with futures up 0.37 percent ahead

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12 Mar 2018 07:51

UPDATE 1-Britain's Melrose ups "final" offer for GKN to $11.2 bln

LONDON, March 12 (Reuters) - Melrose Industries increased its hostile offer for GKN to 8.1 billion pounds on Monday by boosting the equity element of the offer, appealing to a

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