Shareholders Accept Melrose; Dana Loses GKN Powertrain

摘要

Melrose Industries, the "turnaround specialist" that launched an unfriendly takeover of GKN plc in January, won its bid with the endorsement of 52.4% of voting shareholders accepting the $11-billion cash-and-stock offer. The victory ends the effort by GKN to preserve its independence and sell-off its Powertrain division to Dana Inc.