Melrose executives – who are on the verge of cashing in after shareholders approved a hostile takeover of GKN last month – earned £170m last year, amounting to more than £40m each. Their…Read more…
Stop UK plc fire sale now call
Concerns over Melrose’s recent hostile takeover of GKN were highlighted this week (April 4) when financial analysts Moody’s said it would review GKN’s credit rating for a possible downgrade. …Read more…
‘Not going down without a fight’
Even in the face of last week’s defeat as Melrose’s takeover of GKN was approved by shareholders, Unite GKN members aren’t giving up. Last Thursday (March 29) investors approved the takeover…Read more…
Clark is out of his depth
Business secretary Greg Clark gave a remarkably deficient interview on BBC Radio 4’s Today programme last week on GKN and takeover policy. He was inaccurate on many of the points he made. Here’s why….Read more…
‘Feet to the fire’
Engineering giant GKN’s shareholders have approved a hostile takeover bid from ‘turnaround specialist’ Melrose this afternoon (March 29). Investors approved the takeover by a slim margin –…Read more…
‘Inadequate assurances’ for GKN slammed
Business secretary Greg Clark today (March 27) stepped in over the GKN takeover bid from Melrose, just 48 hours before investors are to vote on the iconic engineering firm’s future. Investors…Read more…
Reject the bid plea
As GKN investors face a vote on Thursday (March 29) on whether to accept a predatory takeover bid from ‘turnaround specialist’ Melrose, Unite has again urged shareholders to reject the bid and…Read more…
Where shareholders’ interests reign supreme
This week will be a defining one for British business. On Thursday we will find out if the centuries old engineering giant GKN will be the latest victim of our inadequate shareholder laws. …Read more…
‘Into a sea of uncertainty’
In the latest twist in the attempt to take over the world class GKN, Unite has accused turnaround firm Melrose of asking GKN shareholders to take ‘a leap in the dark into a sea of uncertainty’….Read more…
‘Casino style’ takeovers threat
The UK is lagging behind other advanced economies with measures to protect against ‘casino style’ hostile takeovers, according to a report for Unite, which calls for a strengthening of UK takeover…Read more…
Adapt or die?
It was their horrific workplace conditions that brought them together – and now the three nightshift workers at a London hotel are the best of friends. Within a few months of starting,…Read more…
‘Rising anger’
Unite said it had ‘no confidence’ in Melrose’s vision or strategy for GKN after the firm refused to give guarantees on jobs, skills and investment today (March 19). In a full and frank…Read more…
Reject bid call
Unite today (March 12) urged shareholders to reject Melrose’s latest bid for GKN and repeated calls for the business secretary Greg Clark to intervene in the debt-fuelled takeover bid on grounds of…Read more…
GKN-Dana merger
Unite called for assurances on jobs and investment after details of a proposed merger between GKN’s Driveline division and Dana emerged today (March 9). Responding to news of a possible tie…Read more…
MPs grill Melrose bosses
MPs grilled Melrose executives today (March 6) over their takeover bid of engineering giant GKN at a business select committee hearing, where Unite representatives also gave evidence. The…Read more…
Stop GKN takeover
Workers from some of GKN’s biggest customers joined their colleagues from GKN today (March 1) to call on Theresa May’s government to block Melrose’s debt-fuelled takeover bid of the British-based…Read more…
End debt-fuelled takeover call
GKN workers will be travelling from workplaces across England to the Houses of Parliament on Wednesday (February 28) to lobby MPs and demand Theresa May’s government stops Melrose’s debt-fuelled…Read more…
‘Come clean now’
An inquiry into turnaround specialist Melrose’s predatory takeover of engineering firm GKN has finally been agreed following pressure from Unite. The business, energy and industrial strategy…Read more…
Reject takeover call
The bid for ownership of long-standing British engineering firm GKN will be paid for through hefty debts and damaging restructuring that will make the company unstable and unsustainable, according to…Read more…
New fears for Melrose bid
The national security of the United States could be jeopardised if the takeover of UK defence contractor GKN by investment company Melrose goes ahead, Unite has warned. Unite has written to…Read more…