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Melrose pours scorn on Project Boost

Melrose pours scorn on Project Boost

Talk is cheap; execution is what matters. That formed the sub-text of Melrose Industries’ (MRO) response to a new strategy and transformation plan from GKN (GKN) designed to deter shareholders from accepting the terms of what has become a decidedly hostile takeover bid. The “killer fact”, according to Melrose, is that “GKN is waving the prospect of a £2.5bn cash return to shareholders” over the next three years funded primarily through the proposed sale of its powder metallurgy unit.

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