Saturday, 13 January 2018

Possible GKN takeover

I see that Vince Cable objects to a Scottish-based private equity company taking over UK industrial conglomerate GKN. Melrose's profile suggests that they are a cut above the average asset-stripper, but Vince knows more about finance and knows more people in business than the average citizen (and probably most Conservative MPs) so one must accede to his expertise.

I do know that GKN itself grew by amalgamation and takeovers. The G stands for "Guest", the family which was responsible for the historical prosperity of Merthyr. Nettlefolds (screws) and Keen (fasteners) were Birmingham-based and it seems that it was Arthur Keen who drove the amalgamation of the companies in the interest of vertical integration.

There is more here.

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