Market sources suggested companies such as Spirit AeroSystems or Triumph Group could be suitors for GKN's aerospace business. The housebuilder said it expects to deliver a significant improvement in profitability in 2018.
The share-and-cash offer, tabled on January 8th, valued GKN at 405 pence per share at that time, a 24 per cent premium to the closing price the day before. "The timing of the separation will be determined by the need to maximise the economic benefits and minimise the costs associated with separation".
Also included in the statement issued today reveals plans to split the aerospace and automotive divisions into separate companies, and that Anne Stevens, now Interim Chief Executive, agreeing to become the Group's new Chief Executive with immediate effect.
Investors have been calling for GKN to split its businesses as management persistently failed to meet targets to improve profit and cash flow despite growing sales.
Image GKN's aerospace customers include Boeing
The firm itself undertook a "wide-ranging review" of its business past year, as profit margins and cash generation were stuck "below expectations". "Portfolio rationalisation of our non-core product segments will also be a priority", says GKN.
GKN said earlier this month it has now appointed Anne Stevens to run the group on a permanent basis after she took up the role of interim CEO in November.
Ms Stevens, who at 69 has extensive experience in the aerospace and automotive sectors, said she would instill a much stronger performance and accountability culture at the group, which employs 58,000 people across 30 countries.
"Anne Stevens has the track record to transform GKN", states chairman Mike Turner.
GKN said current trading was in line with expectations, with 2017 profits expected to be slightly ahead of the 2016 figure of £678m before the United States write-off.
"We believe Melrose would be able to substantially improve the operations and we suspect shareholders would support an increased bid", Liberum analyst Ben Bourne said in a note to clients. That write-off, associated with GKN's United States aerospace business, will be "nearer the upper end" of an £80-130 million range, GKN indicates.
About a third of those with the BRCA mutation had a double mastectomy to remove both breasts after being diagnosed with cancer. Scientists believe the results could help women and doctors make more informed decisions about their treatment in the future.
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The British bobsledder Bruce Tasker will miss the Winter Olympics in Pyeongchang after having a minor stroke on 4 January. These press releases appear as sent to Around the Rings and are not edited for spelling, grammar or punctuation.
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The elderly, children, pregnant women and people with chronic medical conditions are at high risk for flu complications. Fitzgerald said manufacturers have produced and shipped over 151 million vaccines as of last month.
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Gary Pitney said the likelihood is increasing that rescue crews will be finding bodies instead of survivors at this point. It was raining, but the storm's roar had gone silent. "It's not like anybody came around and told them to leave".
I mean, we all remember how brutal some people were to Kim K when she was pregnant, just for putting on a bit of weight. You hear that? That might be sound of Kylie Jenner giving birth-or the noise of thousands of people tweeting about it.
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In the television sphere, " Big Little Lies " and " The Handmaid's Tale " once again took the top honours. "Thank you so much". Also, actresses Allison Janney and Margot Robbie both won individual awards for their portrayals in the film , I, Tonya .
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Martin Luther King, Jr . stood on the steps of the Lincoln Memorial and delivered his now famous "I Have A Dream Speech". Sunday program presented by Benedictine University history professor Vincent Gaddis at its learning center. "Dr.
During the second Bush administration, Republican appointee David Bogden was removed as Nevada's US attorney for unstated reasons. MA and other states believed that Obama's wink and a nod with federal law enforcement would be honored by future presidents.
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A fire swept through a sweet shop in Mumbai earlier this month, sparking a building collapse which killed 12 sleeping workers. The 1 a.m. fire quickly spread from the restaurant through a four-story building, said fire official Balkrishna Kadam.