18th Apr 2018 17:17
LONDON (Alliance News) - FTSE 250-listed Melrose Industries PLC on Wednesday said that it received valid acceptances representing about 85% of the voting rights of engineer GKN PLC.
Earlier on Wednesday, the industrial turnaround specialist confirmed that it satisfied all outstanding conditions to the offer and it will become unconditional on Friday.
The investment company said that it acquired GKN shares carrying over 75% of the voting rights of GKN.
It also intends to make an application to the London Stock Exchange for the cancellation of the trading of GKN shares on its main market.
Shares in Melrose Industries closed up 1.5% at 235.00 pence; while GKN shares closed up 1.4% at 476.00 pence on Wednesday.