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Union warns of profiting if takeover of Redditch firm GKN goes ahead

Correspondent 11th Feb, 2018

BANKERS and financiers stand to make in the region of £140million if predator firm Melrose succeeds in its bid to buy Redditch global engineering and aerospace company GKN.

That’s the sum arrived at by the Unite union as the future of the Ipsley-based company was debated in Parliament on Wednesday.

Prime Minister Theresa May was urged by Birmingham MP Jack Dromey to block the hostile takeover and she acknowledged the Government was ‘looking closely’ at the bid.

Melrose has offered cash and shares to the value of £7billion for GKN, a sum rejected as ‘derisory’ by company chief executive Anne Stevens.

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