Correspondence published ahead of BEIS Committee hearing on GKN takeover

In advance of the Business, Energy and Industrial Strategy Committee's evidence session next Tuesday on the proposed takeover of GKN by Melrose, the committee has today published correspondence from Rt Hon Greg Clark, Secretary of State for the Department of Business, Energy and Industrial Strategy, and from GKN, Melrose and Unite.

Looking ahead to next week’s session, Rachel Reeves MP, Chair of the Business, Energy and Industrial Strategy (BEIS) Committee said: “GKN is an important company for the UK and globally. Hostile takeovers attempts of major UK companies do not happen very often. Our session on Tuesday provides an opportunity to hear from Unite about worker concerns and to question GKN and Melrose executives about their plans for the future of the business and how they are going to deliver long-term success for the company, shareholders, workers and pension holders. There are serious matters at stake not only for the future of GKN and of highly-skilled jobs at the company but also for the UK’s engineering, science and research base. It also puts into focus our industrial strategy and the objectives of boosting productivity, growing companies and ensuring long-term investment in industries of strategic importance.”