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GKN and Dana agree auto-engineering merger for $6.1bn

UK engineering giant GKN has agreed to merge part of its business with US company Dana, as it seeks to fend off a takeover bid from Melrose Industries. The merger will combine GKN’s Driveline division with US auto-engineer Dana in a deal worth $6.1bn (£4.4bn). It comes as Melrose has …

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GKN to sell off assets and return £2.5bn to shareholders

Engineering giant GKN says it will sell off non-core parts of its business and return £2.5bn in cash to its shareholders over the next three years. The plans are part of its defence against a £7.4bn hostile takeover bid from Melrose Industries. GKN’s new strategy and transformation plan includes the …

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