GKN, PLC: Melrose to break up Britain's oldest engineering firm via GKN automotive spin-off

Melrose Industries confirmed this a.m. plans to spin off the GKN automotive business in a move that will see Britain's oldest engineering firm broken up. Turnaround specialist Melrose, which bought GKN in a controversial £8bn takeover in 2018, said it will demerge GKN's automotive and the smaller powder metallurgy divisions from its aerospace arm into [...]The post Melrose to break up Britain's oldest engineering firm via GKN automotive spin-off appeared first on CityAM.