LONDON, Feb 28 (Reuters) - Melrose Industries hassecured the backing of investor advisory firm InstitutionalShareholder Services (ISS) for its 7 billion pound ($9.7billion) hostile bid for British engineering firm GKN.
"Given the sensible strategic rationale, (Melrose's)turnaround track record and reasonable valuation, approval ofthe acquisition is warranted," ISS said in a note circulated toclients last week. Melrose investors are due to vote on theproposed deal at a meeting on March 8.
($1 = 0.7218 pounds)(Reporting by Ben Martin; editing by Jason Neely)