March 14, 2018 / 12:20 PM / in 7 months

Melrose criticised by UK parliamentary committee over GKN bid details

LONDON, March 14 (Reuters) - Melrose Industries was criticised by a British parliamentary committee on Wednesday over its 8.1 billion pound ($11.32 billion) bid for engineering firm GKN 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.

$1 = 0.7155 pounds Reporting by Ben Martin; editing by Jason Neely

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