Share Name Share Symbol Market Type Share ISIN Share Description
GKN Plc LSE:GKN London Ordinary Share GB0030646508 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 482.40p 0 05:31:08
Bid Price Offer Price High Price Low Price Open Price
481.00p 481.50p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Automobiles & Parts 9,671.00 658.00 29.30 16.5 8,319.5

GKN (GKN) Latest News

GKN News

Date Time Source Headline
18/5/201815:30PRNUSGKN PLC - Treasury Stock
18/5/201815:30UKREGGKN PLC Treasury Stock
17/5/201817:58PRNUSGKN PLC - Treasury Stock
17/5/201817:58UKREGGKN PLC Treasury Stock
08/5/201817:30PRNUSGKN PLC - Treasury Stock
08/5/201817:30UKREGGKN PLC Treasury Stock
03/5/201815:08PRNUSGKN PLC - Result of AGM
03/5/201815:08UKREGGKN PLC Result of AGM
01/5/201815:42UKREGGKN PLC Total Voting Rights
01/5/201815:41PRNUSGKN PLC - Total Voting Rights
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DateSubject
11/4/2018
20:41
bukko: bouleversee If there was a solid cash alternative I would take it. However it is subject to "mix 'n match" within the available cash allocation. It would take around 4.7 all share GKN share options to fund 1 all cash GKN share option.This seems unlikely to happen IMO. The late share price rally didn't reach my sell order price for half my shares so I will be taking up the basic improved offer and sort things out later. Only the basic offer is available after the 18th. There is a deep conflict of interest between the 3-5 year Melrose economic model and the continuous operation of a company through economic cycles and business challenges which cannot be papered over. Later..
03/4/2018
19:22
sorcery: Hi Minerva, I know I am not MEANWHILE but my take is the government will not approve if they don't know who the ultimate buyer is (the one providing the dosh, not Melrose), then the government could get seriously embarrassed if they are not careful. It could be stopped if the papers picked up on it. I am holding until I the 18th, the last day before acceptance or not. Far more value in a holding in GKN than Melrose I think. Nothing wrong with selling now, if the takeover does get blocked then I would expect the share price to fall short term. I am seriously interested in why a non-entity like Melrose could attract £8billion of loans?
13/3/2018
12:06
bukko: GKN RNS on pension schemes a short time ago together with Trustees report. It would appear that MRO have not met with the Trustees yet. Will MRO match that and how? htTps://uk.advfn.com/stock-market/london/gkn-GKN/share-news/GKN-PLC-Statement-re-GKN-pension-schemes/76930917
13/3/2018
10:36
no dice: The MRO final offer document clearly states "the Final Offer, together with the Announced Dividend" ... "values each GKN Share at 467 pence". Melrose haven't made the rookie error of including the dividend in their offer as claimed by GKN and for GKN to allege otherwise is disingenuous on their part and further undermines their already weak defence of this bid.
09/3/2018
18:22
stuffee: GB Melrose's offer will have to close for acceptance on 29 March and it will want to give at least 14 days' notice; I therefor expect it to announce a "final" increased offer early next week and by Thursday 15 March. I anticipate an increase in terms of 5% to 10% and by declaring the offer "final" and removing uncertainty, its share price should strenghten and hopefully its offer will increase in value to at least 450p. GKN is effectively paying Dana a £40m incentive fee to make the alternative proposal. As M has stated, it is pretty unattractive in concept, swapping its major Driveline business for a minority interst in a US group with unfortunate tax consequences for UK individual shareholders, who would have an income tax liability on value of Driveline business sold. If this nonsense proposal was ever to run, inevitably there would be considerable selling of GKN to avoid this liability. Not sure whether GKN will get any value from the £40m? Don't want to be too negative or M might not bother to make any increase!
09/3/2018
15:29
grahamburn: Melrose have valid acceptances for just 5.76% of GKN's shares as of today, with the offer being extended, as expected, to 29 March. Melrose do, of course, have the opportunity to raise their offer up to 19 March. Current share price reaction (especially in the last half hour or so) of both shares doesn't really give any clue as to which way it will go. IMO the principal term of the Dana deal which may assist Melrose is that current GKN shareholders will end up with a substantial percentage of their holding effectively relisted in the USA.
04/3/2018
15:29
grahamburn: Interesting commentary in The Times Business News yesterday. May I stress before any poster queries my motives that I am non-partisan in this prospective hostile bid - simply interested in genuine facts, evidence and discussion on the pros and cons of each successful or not UK company's position. Any transaction must be in the long term interests of all stakeholders - shareholders, employees, suppliers and customers. _________ Business commentary March 3 2018, 12:01am, The Times Defence is all kinds of everything Alistair Osborne Sing along now: “Snowdrops and daffodils, butterflies and bees.” The GKN defence has been a multi-faceted affair. But, at last, it’s making sense. It’s got a thing going with Dana. Yes, Dana, winner of the 1970 Eurovision Song Contest. And not with any old ditty but All Kinds of Everything: the soundtrack to GKN’s defence. Just think of all the ways it’s tried to see off Melrose’s £6.9 billion hostile bid. It’s played the pensions card, frightening GKN’s retirees — even though it knew Melrose had already offered to put another £150 million into their fund. Then there was the national security card, despite GKN not featuring among the Ministry of Defence’s leading suppliers (not in the top 100, according to Melrose). Plus, of course, the efforts of its new boss Anne Stevens. She’s painted the Melrose raiders as mere moneymen, unlike the woman behind Project Boost, the turnaround plan based on “real engineering, not financial engineering”. No matter, either, that Ms Stevens is planning to break up the group into its automotive and aerospace parts in 15 months — far faster than Melrose, which reckons you should improve things first. And now look. Up pops Dana, knitting it all together in her Irish lilt. So talk about disappointing. Turns out it’s a different Dana — the main reason, you imagine, GKN shares fell 3 per cent to 420p. This one comes from Maumee, Ohio, and fancies getting hitched to GKN’s Driveline wing via some “potential combination . . . effected mainly in equity”. Indeed, GKN reckons the possible tie-up “could provide greater value to shareholders” than a demerger. Talks with Dana Inc are at an early stage, flushed out by the Financial Times. Yet you can see why Jefferies analysts believe “the relative scale of the two businesses” makes a deal “very demanding”. Dana, valued at only $3.8 billion, looks no bigger than a standalone Driveline: it had $7.2 billion sales last year, less than Driveline’s £5.3 billion, even if, unsurprisingly, Dana has better margins. And why would GKN investors want a ton of Dana shares? They haven’t always looked the greatest bet, what with Dana collapsing into Chapter 11 bankruptcy protection in 2006. And the shares have had quite a run of late, nicely timed for a share-based pop at the GKN business. What, too, would Britain’s politicians think? They don’t even like the idea of another British engineering company buying GKN. So what would they make of GKN’s American boss selling one of its two main businesses to some US outfit? Still, at least Dana has livened things up, which is more than you could ever say for the other Dana’s song. GKN has demonstrated that there are companies out there happy to help it to break itself up, potentially upping the pressure on Melrose to raise its offer. After its shares fell 3 per cent yesterday to 215½p, its bid is now 18p shy of GKN’s share price. A bit short, then, of all kinds of everything.
09/2/2018
15:51
minerve: Thanks for the update MEANWHILE. Has the MRO share price diverged from its track of the GKN price?
17/1/2018
10:45
broadwood: Turnaround specialist Melrose has stepped up its fight to acquire FTSE 100 engineering giant GKN with a hostile takeover bid worth around £8.5bn, including debt. Melrose hopes to tempt GKN’s shareholders with the prospect of an immediate cash payout worth 81p per share and 57pc ownership of the combined company after its board rejected a takeover approach last week. The terms of the offer are the same as those GKN rebuffed, but now represent a 29pc premium on the closing of its shares the day before the initial approach was disclosed. It values GKN at 430.1p per share, or £7.4bn, and Melrose will also have to take on GKN's debt of around £1bn. Simon Peckham, Melrose’s chief executive said: "Since our approach was announced, the Melrose share price has risen as the market digests the attractive opportunity our proposal represents." He added: “However, the real value uplift will come from merging the interests of the two sets of shareholders and creating a business valued at approximately £11 billion today, of which GKN holders will own the majority, including Nortek, our US business which is trading strongly.” Melrose believes it can “re-energise and re-purpose” GKN's operations to boost its margins after the engineering firm issued two profit warnings towards the end of last year. The approach forced GKN to reveal its own turnaround plans last week, including the separation of its automotive and aerospace arms and the appointment of interim boss Anne Stevens as permanent chief executive
12/1/2018
08:12
broadwood: The Board confirms that on 8 January 2018 it received a preliminary and unsolicited proposal from Melrose to acquire the entire issued and to be issued share capital of GKN at a price of 405 pence per share, comprising 80% in new Melrose shares and 20% in cash (the “Proposal̶1;). Using the closing share price of Melrose of 218 pence as of 5 January (the business day prior to receipt of the Proposal) the Proposal implied an exchange ratio of 1.49 new Melrose shares for each issued and to be issued GKN share (which would result in GKN shareholders holding approximately 57% of the enlarged company and Melrose shareholders holding 43%) plus 81 pence in cash per GKN share. The Board of GKN has considered the Proposal together with its financial advisers, Gleacher Shacklock, J.P. Morgan Cazenove and UBS Limited, and has unanimously rejected it, having concluded that the Proposal is entirely opportunistic and that the terms fundamentally undervalue the Company and its prospects. In addition, the Proposal would materially dilute the exposure of GKN shareholders to the meaningful upside opportunities that the Board believes are present within the Company. In accordance with Rule 2.6(a) of the Code, Melrose is required, by not later than 5.00 p.m. on 9 February 2018, to either announce a firm intention to make an offer for GKN in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code. This announcement is made without the consent of Melrose.
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