GKN, which makes kit for aircraft, is trying to fend off a bid from MelroseThe owner of Britain’s largest caravan park operator is trying to muscle in on the takeover battle for GKN. Executives from the Canadian buyout firm Onex are understood to have met management at the FTSE 100 engineering giant last week. Onex, which owns the holidays parks business Parkdean, is believed to be eyeing GKN’s aerospace division, which makes kit for planes including Airbus’s A380 superjumbo. GKN is trying to fend off a hostile bid from industrial raider Melrose, which has offered £7.4bn in cash and shares, triggering interest from other would-be buyers. Onex previously owned GKN’s rival Spirit AeroSystems, formed from divisions of the American giant Boeing in 2005.

Source: The Times February 04, 2018 00:04 UTC