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GKN-owner Melrose to return $1 bln to shareholders

June 22 (Reuters) - Britain’s Melrose Industries said on Tuesday it has plans to return about 730 million pounds ($1.01 billion) in cash to its shareholders after the owner of GKN sold its Nortek Air Management business.

$1 = 0.7194 pounds Reporting by Pushkala Aripaka in Bengaluru, Editing by Sherry Jacob-Phillips

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