GKN launches attack on suitor

Takeover target GKN has fired a broadside at hostile suitor Melrose, accusing it of making “fake” claims over its £7.4 billion bid and biting off more than it can chew.

The engineer, which rejected the takeover offer on Wednesday, said yesterday in a blistering rebuttal that Melrose had made “misleading statements” over the value premium of the bid.