Split into three key divisions - GKN Aerospace, GKN Driveline and GKN Powder Metallurgy – the multinational designs, manufactures and services systems and components for most of the world’s leading aircraft, vehicle and machinery makers. Shares in FTSE 100-listed GKN were up more than 3%, at 435p, at about 4pm in London after the announcement of the Dana deal. GKN’s shareholders will need to approve the merger, weighing its merits against a Melrose takeover. GKN's defence is starting to look more credible | Nils Pratley Read moreThe deal with Dana “provides significantly greater value for GKN’s shareholders than the Melrose offer”, GKN said. The Driveline deal would also deliver annual synergies of $235m by the end of the third year after the merger, GKN added.

Source: The Guardian March 09, 2018 17:03 UTC