Melrose paid £8.1 billion for the acquisition of the engineering giant GKN. This significant transaction marked the end of independence for one of Britain's oldest and most iconic engineering firms.
Details of the GKN Acquisition by Melrose
The sale of GKN to Melrose, an investment firm, was a notable event in British industrial history. GKN, renowned for its extensive contributions to manufacturing, including components for everything from classic Minis to wartime Spitfires, ultimately lost its fight to remain an independent entity.
Here are the key details of the acquisition:
| Aspect | Description |
|---|---|
| Acquirer | Melrose |
| Acquired Company | GKN |
| Acquisition Price | £8.1 billion |
| Historical Context | GKN was involved in making everything from Minis to Spitfires |
| Outcome for GKN | Lost its battle to stay independent |
The final price of £8.1 billion reflects the valuation of a company with a rich heritage and a broad impact on British industry. While some initial reporting might have presented a rounded figure of £8 billion, the more precise amount for the sale was £8.1 billion.
This acquisition highlights Melrose's strategy of acquiring manufacturing and industrial businesses, often restructuring them to improve performance and value. For GKN, it meant a change of ownership after a long and storied history as a cornerstone of British engineering.
