Melrose successful in swoop for GKN

Melrose has won control of GKN, as the blue chip engineer failed to fight off the £8.1 billion hostile bid. The investor secured the aerospace and automotive parts company with its cash-and-shares offer in a shareholder vote, after the most intense fight in the City since Kraft’s swoop on Cadbury a decade ago. Melrose won the backing of 52.43 per cent of investors for its bid, which offered 1.69 shares in the combined business and an 81p payment. Business, page 1