28th Aug 2018 11:41
LONDON (Alliance News) - Melrose Industries PLC has put the sale of US firm Ergotron on hold, the Financial Times reported on Monday, due to the unit's chief executive falling ill.
Elsewhere, the Sunday Telegraph said Melrose is already looking for bidders for the Power Metallurgy business of GKN PLC, which it bought less than six months ago.
The FT said Melrose has postponed the USD800 million sale of Ergotron, part of Melrose's US subsidiary Nortek, after its chief executive stepped down for health reasons.
The sale of Power Metallurgy, the Telegraph said, is set to be started officially when Melrose announces interim results on Thursday next week.
https://www.ft.com/content/92269612-a9dd-11e8-94bd-cba20d67390c
https://www.telegraph.co.uk/business/2018/08/25/melrose-kicks-gkn-break-up-19bn-sale-powder-metallurgy-division/
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