Minister told to save GKN

MPs have urged Business Secretary Greg Clark to block a takeover of GKN on the grounds of national security. The engineering giant, which makes technology for the F-35 fighter jet and parts for big car firms, is fighting a hostile £7.4billion approach from turnaround specialist Melrose. Rachel Reeves, head of the Commons Business Committee said: “GKN is important for the automotive and defence sectors of our economy and the Secretary of State needs to provide assurances that Britain’s strengths in these sectors will not be undermined by a takeover or by asset-stripping.” The Mirror revealed this week how bankers and lawyers could share £140m in fees if the deal goes ahead.