Unite, the union representing Morrisons workers, has called for urgent talks with the supermarket amid the news that a US private equity consortium is making a move to purchase the business. The…Read more…
Tech firm deal ‘not in the UK’s national interest’
The government must prevent the £31 billion sale of UK software and semiconductor giant Arm to US multinational Nvidia in order to protect the UK’s tech sector, Unite said today (September 15). The…Read more…
‘Worst of all possible worlds’ threat
A merger between supermarket giants Sainsbury’s and Asda was thrown into question today (February 20) after the competition watchdog said it found “extensive concerns” over the proposed tie-up….Read more…
Unilever not leaving
Unite has welcomed the news that Unilever, producer of popular British consumer brands such as Marmite and Pot Noodle, is scrapping its plans to relocate its headquarters to Rotterdam following a…Read more…
‘Not far enough’
New government plans to strengthen takeover laws will fall short in stopping the short term-ism of speculative capital, Unite has said. The plans, which will be subject to a 12-week…Read more…
‘We must act now’
GKN’s credit rating was this week (May 29) slashed following a hostile takeover by turn-around specialist firm Melrose in March. Credit rating firm Moody’s cut GKN’s rating from Baa3 to Ba1 –…Read more…
Listen to workers call
Unite warned ministers and competition authorities against overlooking the concerns of workers and food producers when weighing up a proposed merger between the supermarket giants Sainsbury’s and…Read more…
‘Unguarded moment’?
Just hours after the merger between Sainsbury’s and Asda was announced, a venture that could very well slash jobs and shut stores, Sainbsury’s chief executive Mike Coupe had only one thing in mind…Read more…
Airbus’ fears over Melrose plans
Unite members are not the only ones anxious about Melrose’s takeover of engineering firm GKN. Reiterating its worries yesterday (April 11), GKN’s biggest customer Airbus told investors that the firm…Read more…
‘Unacceptable face of capitalism’
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…
‘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…
Where it’s hard to be hostile
Unilever’s decision to locate its new headquarters in Rotterdam, not London, is a damning indictment of the UK’s toothless takeover laws, which do little to prevent hostile bids and asset-stripping…Read more…
‘Toothless takeover laws’
Unilever’s decision to pick the Netherlands over Britain for its headquarters was based in part on the UK’s “toothless takeover laws”, Unite has learned. The consumer goods giant, which has…Read more…