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Goldman Sachs Nearly Halves Stake In GKN To 6.4% From 11.8% (ALLISS)

Thu, 29th Mar 2018 12:42

LONDON (Alliance News) - GKN PLC said Thursday that Goldman Sachs Group Inc nearly halved its stake in the FTSE 100-listed engineering firm after a transaction on Monday.

Goldman held 115.4 million voting rights in GKN after the transaction, equivalent to a 6.4% stake in the 1.72 billion shares outstanding. Prior to the transaction, Goldman held a 11.8% stake in the firm.

Shares in GKN were 0.4% higher at 424.60 pence on Thursday.

The transactions comes amid the final run-up to the decision by investors, due by Thursday, as to whether or not to accept the GBP8.4 billion hostile takeover bid from Melrose Industries PLC. GKN advises shareholders to oppose the offer, instead pursuing a strategy in which it sold its automotive business to US firm Dana Inc in order to focus on its aerospace unit.

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29 Mar 2018 00:01

Fate of GKN hangs in balance as investors decide on Melrose bid

By Ben Martin LONDON, March 29 (Reuters) - The three-month battle for GKN will be decided on Thursday when the deadline for shareholders to accept Melrose 8 billion bid

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28 Mar 2018 17:53

Deutsche Bank Lowers Stake In GKN Below Notifiable Threshold (ALLISS)

LONDON (Alliance News) - GKN PLC said Wednesday German banking giant Deutsche Bank AG lowered its stake in the FTSE 100-listed engineer to below the notifiable threshold after

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28 Mar 2018 13:29

UPDATE: GKN Attacks "Desperate" Commitments From Melrose Amid Offer

LONDON (Alliance News) - GKN PLC said Wednesday commitments provided to the UK government by Melrose Industries PLC with regards its hostile GBP8.4

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27 Mar 2018 14:44

UPDATE: Melrose Has Made No Commitments Over Driveline Future - GKN

LONDON (Alliance News) - GKN PLC on Tuesday said the need for the UK government to intervene and seek commitments from Melrose Industries PLC over its bid

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27 Mar 2018 14:20

UK awaits security advice before any intervention in GKN deal -minister

LONDON, March 27 (Reuters) - Britain's business minister Greg Clark said on Tuesday he would follow expert advice from the defence ministry and others

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27 Mar 2018 11:22

UPDATE 1-Melrose makes 5-yr commitment to GKN's aerospace arm after government intervenes

By Kate Holton LONDON, March 27 (Reuters) - Melrose on Tuesday committed to a five-year ownership of GKN's Aerospace division if it succeeds in its hostile bid for

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27 Mar 2018 08:54

TOP NEWS: UK Seeks Binding Commitments From Melrose Over GKN Bid

LONDON (Alliance News) - The UK government has sought several commitments from Melrose Industries PLC over its GBP8.4 billion hostile bid a

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27 Mar 2018 07:55

Melrose commits to five-year ownership of GKN's Aerospace division

LONDON, March 27 (Reuters) - Melrose on Tuesday pledged to own the Aerospace division of its bid target GKN for at least five years and to increase funding in apprenticeships

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26 Mar 2018 17:54

UPDATE 1-FTSE ends at 15-month low

* FTSE 100 down 0.4 pct * Fresnillo jumps pct on Goldman upgrade * Smurfit Kappa rejects revised International Paper bid * JD Sports rises on Finish Line

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26 Mar 2018 11:44

UPDATE: Melrose Industries Attacks GKN After Dana Boosts Merger Offer

LONDON (Alliance News) - Melrose Industries PLC reiterated its belief it is time for a change of leadership at GKN PLC, soon after Dana Inc increased its merger offer for by a

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26 Mar 2018 09:48

FTSE 100 rebounds, but still shy of 7,000, as trade fears ease

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * FTSE 100 up 0.4 pct * Fresnillo jumps 3.7 pct on Goldman upgrade * Smurfit Kappa rejects revised JD

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26 Mar 2018 08:02

TOP NEWS: Dana Increases Driveline Merger Offer By USD140 Million

LONDON (Alliance News) - GKN PLC said Monday Dana Inc has added USD140.0 million to the proposed combination between the company and GKN's Driveline now GKN

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26 Mar 2018 07:46

UPDATE 1-Dana ups cash offer by $140 million in hotly contested fight for Britain's GKN

LONDON, March 26 (Reuters) - U.S. group Dana Inc agreed to increase its offer for GKN's Driveline business by $140 million in cash as 5

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26 Mar 2018 07:43

UPDATE 1-UK Stocks-Factors to watch on March 26

March 26 (Reuters) - Britain's FTSE 100 index is seen opening 22 points lower at 6,900 on Monday, according to financial bookmakers, with futures 0.1 percent lower ahead a

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26 Mar 2018 07:22

Dana ups cash offer in hotly contested fight for Britain's GKN

LONDON, March 26 (Reuters) - Auto components maker Dana Inc said on Monday it had agreed to increase its offer for GKN's Driveline business by $140 million

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