Britain’s largest union, Unite today (Monday 12 March) urged
shareholders to reject Melrose’s latest bid for GKN and repeated
calls for the business secretary Greg Clark to intervene in the
debt-fuelled takeover bid on grounds of national security.
Responding to news that GKN’s board had recommended that
shareholders reject Melrose’s latest bid, Unite assistant general
secretary for aerospace Steve Turner said: “It is clear from
its latest bid for the whole of GKN that nothing...Request free trial
Britain’s largest union, Unite today (Monday 12 March) urged
shareholders to reject Melrose’s latest bid for GKN and repeated
calls for the business secretary to intervene in the debt-fuelled
takeover bid on grounds of national security.
Responding to news that GKN’s board had recommended that
shareholders reject Melrose’s latest bid, Unite assistant general
secretary for aerospace Steve Turner said: “It is clear from
its latest bid for the whole of GKN that nothing has changed
regarding Melrose’s approach which is built on debt and
short-termism to turn a quick buck.
“Our members remain deeply fearful that they will see their jobs
axed or shipped overseas to fund a debt-fuelled pay bonanza for
Melrose bosses and hedge funds.
“Melrose’s self-professed short-term approach of breaking companies
up and selling parts quickly on, raises major concerns for UK
defence interests and works against the long-term projects that GKN
Aerospace is involved in and the intellectual property
involved.
“Unite will be meeting Melrose to discuss its bid in detail, but
remains of the belief that it is bad for jobs, skills and
investment and that the business secretary should call it in on
national security grounds.”
