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United Kingdom

GKN PLC (GKN.L)

GKN.L on London Stock Exchange

443.10GBp
11:30am BST
Change (% chg)

-8.30 (-1.84%)
Prev Close
451.40
Open
452.60
Day's High
452.60
Day's Low
442.90
Volume
741,121
Avg. Vol
13,650,594
52-wk High
482.30
52-wk Low
280.00

Latest Key Developments (Source: Significant Developments)

GKN quarterly sales drop 0.5 pct to 2.6 bln stg-Melrose
Tuesday, 24 Apr 2018 

April 24 (Reuters) - Melrose Industries PLC ::GKN <<>> QUARTERLY SALES 2.599 BILLION STG VERSUS 2.611 BILLION STG YEAR AGO.TRADING UPDATE FOR GKN PRIOR TO MELROSE OWNERSHIP.GKN GROUP SALES IN PERIOD WERE £2,599 MILLION (2017: £2,611 MILLION).GROUP OPERATING PROFIT WAS £181.5 MILLION (2017: £215.1 MILLION).GROUP OPERATING PROFIT MARGIN WAS 7.0% (2017: 8.2%).GKN PLC PERFORMANCE IN PERIOD BEFORE MELROSE OWNERSHIP SHOWED TRENDS BELOW CURRENT MARKET EXPECTATIONS FOR GKN FOR PROFIT AND CASH GENERATION.WHILE THIS GIVES MELROSE A LOWER STARTING POINT FOR GKN THAN CURRENT MARKET CONSENSUS OPINION, MELROSE ALLOWED FOR FURTHER UNDERPERFORMANCE BY GKN PRIOR TO ITS OWNERSHIP.REMAINS CONFIDENT IT WILL BE ABLE TO DELIVER ON ALL STATEMENTS IT MADE DURING OFFER PERIOD OVER MEDIUM TERM.  Full Article

Melrose Says Offer For Gkn Unconditional In All Respects
Thursday, 19 Apr 2018 

April 19 (Reuters) - Melrose Industries Plc ::OFFER FOR GKN UNCONDITIONAL IN ALL RESPECTS.MELROSE'S OFFER FOR GKN HAS BECOME UNCONDITIONAL IN ALL RESPECTS.ALL MEMBERS OF BOARD OF GKN HAVE RESIGNED FROM BOARD OF GKN PLC AS OF APRIL 19.  Full Article

Melrose Says Received Valid Acceptances Representing About 84.97 Pct Of GKN Voting Rights
Wednesday, 18 Apr 2018 

April 18 (Reuters) - Melrose Industries PLC ::MELROSE INDUSTRIES - UPDATE RE MELROSE OFFER FOR GKN.MELROSE INDUSTRIES PLC - MELROSE HAD RECEIVED VALID ACCEPTANCES REPRESENTING APPROXIMATELY 84.97 PER CENT.MELROSE - AS AT 12.00 P.M. RECEIVED VALID ACCEPTANCES OF ITS OFFER IN RESPECT OF 1.46 BILLION GKN SHARES, REPRESENTING ABOUT 84.97% OF VOTING RIGHTS OF GKN.  Full Article

Melrose Industries Says Received Valid Acceptances Of About 81.80 Pct Of Voting Rights Of GKN
Tuesday, 17 Apr 2018 

April 17 (Reuters) - Melrose Industries::STATEMENT RE OFFER UPDATE.MELROSE HAS RECEIVED VALID ACCEPTANCES REPRESENTING APPROXIMATELY 81.80 PER CENT. OF VOTING RIGHTS OF GKN.MELROSE EXPECTS THAT OFFER WILL BECOME WHOLLY UNCONDITIONAL BY NO LATER THAN 19 APRIL 2018..  Full Article

UK Govt Has "Statutory Responsibility" To Consider Whether GKN-Melrose Merger Gives Rise To Public Interest Concerns - Business Secretary‍​
Thursday, 29 Mar 2018 

March 29 (Reuters) - UK Business Secretary Greg Clark: :"DURING BID, MELROSE MADE COMMITMENTS WHICH THEY ARE BOUND TO HONOUR INCLUDING INVESTMENT IN RESEARCH AND DEVELOPMENT, MAINTAINING ITSELF AS UK BUSINESS" ‍​.GOVERNMENT HAS STATUTORY RESPONSIBILITY TO CONSIDER WHETHER GKN-MELROSE MERGER IN PROPOSED FINAL FORM GIVES RISE TO PUBLIC INTEREST CONCERNS .ASSESSMENT ON WHETHER MERGER GIVES RISE TO PUBLIC INTEREST CONCERNS WILL BE MADE BY APPROPRIATE AUTHORITIES.CONCLUSION ON ASSESSMENT ON WHETHER MERGER GIVES RISE TO PUBLIC INTEREST CONCERNS WILL BE SET OUT IN DUE COURSE .  Full Article

Dana Inc Comments On Decision By GKN PLC Shareholders
Thursday, 29 Mar 2018 

March 29 (Reuters) - Dana Inc ::DANA COMMENTS ON DECISION BY GKN SHAREHOLDERS.DANA INC - "APPEARS UNLIKELY THAT OUR PROPOSED COMBINATION WITH GKN DRIVELINE WILL PROCEED".DANA - "ACKNOWLEDGES THE DECISION BY MAJORITY OF SHAREHOLDERS OF GKN PLC TO ACCEPT THE PROPOSAL BY MELROSE INDUSTRIES PLC TO ACQUIRE GKN".  Full Article

Melrose Agrees With Panel On Post-Offer Undertakings On GKN Deal
Tuesday, 27 Mar 2018 

March 27 (Reuters) - Melrose Industries Plc ::CONFIRMS THAT IT HAS TODAY AGREED WITH PANEL FORM OF FOLLOWING LEGALLY BINDING POST-OFFER UNDERTAKINGS (POUS).CONFIRMS IT AGREED WITH PANEL FOR UNDERTAKING FOR PERIOD OF 5 YRS TO MAINTAIN MELROSE GROUP HEADQUARTERS IN UK.AN UNDERTAKING FOR FIVE YEARS TO MAINTAIN LISTING OF MELROSE'S SHARES ON OFFICIAL LIST AS MAINTAINED BY UKLA.POU INCLUDES UNDERTAKING FOR FIVE YEARS THAT NO DIRECTOR WILL BE APPOINTED OR REAPPOINTED, OR RECOMMENDED TO BE APPOINTED OR REAPPOINTED.UNDERTAKING CO WILL PROCURE THAT EXPENSED RESEARCH AND DEVELOPMENT SPEND OF GKN DURING JAN 1 2019 TO DEC 31 2023 WILL BE AT LEAST 2.2 PERCENT OF AGGREGATE GKN SALES.  Full Article

Melrose Industries Says ‍Working Towards Agreement On GKN Pension Schemes
Tuesday, 13 Mar 2018 

March 13 (Reuters) - Melrose Industries ::‍STATEMENT RE GKN PENSION SCHEMES.‍WORKING TOWARDS AN AGREEMENT ON GKN PENSION SCHEMES.‍LOOK FORWARD TO CONTINUING CONSTRUCTIVE DISCUSSIONS WITH GKN'S PENSION TRUSTEES AFTER DISCUSSIONS ON SALE OF GKN DRIVELINE TO DANA ​​​.  Full Article

GKN Notes Announcement By Trustees Of GKN UK Pension Schemes​
Tuesday, 13 Mar 2018 

March 13 (Reuters) - GKN Plc ::REG-GKN PLC: STATEMENT RE GKN PENSION SCHEMES.‍NOTED FURTHER ANNOUNCEMENT MADE ON MONDAY EVENING BY TRUSTEES OF GKN UK PENSION SCHEMES​.  Full Article

GKN Has Had Several Approaches For Individual Businesses- FT,Citing Sources
Friday, 26 Jan 2018 

Jan 26 (Reuters) - :GKN, FACING A HOSTILE 7 BILLION STG BID FROM MELROSE INDUSTRIES, HAS HAD SEVERAL APPROACHES FOR INDIVIDUAL BUSINESSES- FT,CITING SOURCES.  Full Article

PRESS DIGEST- Financial Times - April 25

April 25 The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.