January 17, 2018 / 8:16 AM / a month ago

Melrose offers to buy Britain's GKN for $10.2 bln

Jan 17 (Reuters) - Turnaround specialists Melrose on Wednesday made a firm offer to buy GKN for 430.1 pence per share or 7.4 billion pounds ($10.18 billion) after meeting its shareholders, adding pressure on the British engineering company to accept the deal.

GKN was under pressure from U.S. activist investor Elliott Advisors to open talks with Melrose having rebuffed a 405 pence per share cash-and-stock offer this month.

$1 = 0.7269 pounds Reporting by Noor Zainab Hussain in Bengaluru; editing by Jason Neely

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