Goldman Sachs Expands Melrose Industries Stake To 3.1% (ALLISS)

23rd Mar 2018 16:27

LONDON (Alliance News) - Melrose Industries PLC said Friday that Goldman Sachs Group Inc increased its stake in the FTSE 250-listed industrial turnaround specialist to 3.1% in a transaction on Tuesday.

Goldman held 60.8 million shares in Melrose after the buy, equivalent to 3.1% of the 1.94 billion shares outstanding. Prior to the transaction, the US investment bank held a negligible 0.01% stake in Melrose.

Melrose is in the midst of an GBP8.4 billion hostile takeover battle for FTSE 100-listed engineering firm GKN PLC.

Shares in Melrose were 0.8% lower at 219.90 pence on Friday.

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