Spitfire maker GKN loses its Battle of Britain to the barbarians at the gates
Melrose narrowly won the day but will face a tough time convincing customers and workers to play ball
Say goodbye to one of Britain’s oldest manufacturers.
GKN, which once made the Spitfire, in the end failed in its own Battle of Britain against the barbarians at its gates.
Melrose, a financial engineer that buys real engineers for the purposes of shaking ‘em up and selling ‘em off, has won the companies’ bitterly contested takeover battle in a squeaker, securing the support of a shade above 52 per cent of GKN’s shareholders.
Read more Melrose takeover offer approved in GKN shareholder vote Why Melrose’s takeover of GKN is so important to the UK Airbus warns it won’t give business to GKN if Melrose deal goes ahead The real winners, however, are the casino capitalists that poured in, placing big bets on a Melrose victory. The debate around GKN’s problems and who might be best to fix them meant nothing to them.
Having delivered victory and turned their quick buck they will be..