Melrose criticised by UK parliamentary committee over GKN bid details

From Reuters - March 14, 2018

LONDON (Reuters) - Melrose Industries (MRON.L) was criticized by a British parliamentary committee on Wednesday over its 8.1 billion pound ($11.32 billion) bid for engineering firm GKN (GKN.L) over a lack of detail regarding jobs and investment.

Melrose have given a sense of the likely direction of their post-offer undertakings but there is a still a lack of detail in their commitments on investment and jobs and these currently fall short of being legally enforceable, said lawmaker Rachel Reeves, who chairs the Business, Energy and Industrial Strategy Committee.


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