Melrose commits to five-year ownership of GKN's Aerospace divisionStaff Writer | March 27, 2018
Melrose pledged to own the Aerospace division of its bid target GKN for at least five years and to increase funding in apprenticeships and R&D in a last-ditch bid to get government blessing for its hostile takeover.
Acquisition The group would pump a further 10 million pounds
The group said it would also pump a further 10 million pounds into the company over five years to support the creation of between 100 and 150 new apprenticeships in engineering, technology and science, a key area of focus for the government which is promoting an industrial strategy as it leaves the EU. ■