Vladimir Putin decisively re-elected as Russian president - preliminary results
Trump bans Venezuelan cryptocurrency in the US
John Oliver Releases Childrens Book to Highlight Mike Pence's Homophobic Views
Israeli forces detain 19 Palestinians in overnight raids
Chinese Premier Li Keqiang appointed to second 5-year term
Melrose ups GKN bid to £8.1bn in 'final offer'
15 March 2018, 03:48 | Tara Lloyd
GKN makes parts for the automotive and aerospace industries
Melrose has gone directly to shareholders with its offer because, it said, the GKN board continued to refuse any "constructive discussions".
Melrose said in a letter from its chairman that GKN shareholders can join it on a 'journey of value creation by investing in a United Kingdom listed manufacturing powerhouse worth over £10 billion today and receiving £1.4 billion of cash'.
So, does that change everything?
"Following the (Dana) transaction, GKN shareholders will own 47 percent of a $14 billion revenue global automotive group and will retain ownership of GKN's outstanding remaining businesses", said GKN Chairman Mike Turner.
North Korea offers halt to ICBM program, Chosun says
USA media reports say South Korea and the US will kick off their annual joint military drills at the end of this month. The State Department's roster of senior diplomats dealing with and experienced on North Korea is seriously depleted.
Responding to Monday's higher offer, the board of GKN described it "as entirely opportunistic and believes that its terms fundamentally undervalue" the company and its prospects. Melrose has swiftly refocused things on the here and now.
In a letter to GKN shareholders, Melrose chairman Christopher Miller hit out at the takeover target's own efforts to fight off the hostile bid, particularly GKN's recent agreement to merge its automotive business with U.S. firm Dana in a 6.1 billion USA dollar (£4.4 billion) deal.
The engineering group said on Monday it believed it would be worth 503 pence a share given its plans for improving the company.
"It was a little bit better than we thought", he told Reuters. The move came after the blue-chip company agreed a deal last week to merge its automotive division with Dana.
Middle East, Asian demand driving USA arms exports surge
U.S. arms exports jumped 25 percent in the 2013-2017 period compared with the previous five years, the SIPRI study showed. With the Middle East accounting for 49 percent of total USA arms exports, Saudi Arabia was by far its biggest customer.
The engineering firm, which can trace its roots back to 1759, is attractive to buyers because of its involvement with growing aircraft programs such as the A350 and the A320, and in cars, where it has been growing market share and supplies manufacturers including Fiat Chrysler and VW Group.
Melrose is not the right owner of GKN.
Lawmakers were concerned that Melrose could break up the engineer and sell parts to foreign buyers, potentially compromising British and USA national security because of GKN's work on defence programmes - the company makes components for the Eurofighter Typhoon combat jet.
"Shareholders should be aware that Melrose is asking them to accept its acquisition paper at 22x 2017 earnings, in exchange for world class businesses which Melrose's offer only values at 14x 2017 earnings".
Kenyan president, opposition leader call truce
Waxaa ku guuleystay doorashadii ku celiska ahayd ee Kenya ka dhacday bishii October ee sanadkii 2017 Uhuru Kenyatta, taasi oo Mr. The rare meeting of scions of Kenya's founding fathers elicited mixed reactions but there was a common feeling of optimism.
One officer dead, two others injured in Missouri
According to Missouri State Highway patrol, officers were responding to a call at a residence when the shooting took place. In August, Officer Gary Michael was killed during a traffic stop. "He was just one of those kind of guys", Oberkrom said.
Nintendo Direct Airs Tomorrow; Showcases New Nintendo Releases
We'll likely get a bunch of indies, a first party game or two ( Mario Aces Tennis), and some other third-party games to boot. Here's hoping that these announcements are particularly awesome as a way of celebrating the Switch's one year anniversary.
XXX Star Stormy Daniels Files Lawsuit Against Donald Trump
The growing scandal between President Trump and adult entertainer Stormy Daniels (nee Stephanie Clifford) has intensified. Reached by phone, Daniels' lawyer Michael Avenatti told USA TODAY: "Yeah, and he also won the popular vote".
Microsoft confirms the demise of Windows 10 S
Belfiore tweeted that Windows 10 S is going to be a mode of existing Windows versions next year and "not a distinct version". We use Win10S as an option for schools or businesses that want the "low-hassle"/ guaranteed performance version.
US crude exports to Asia are slumping as WTI…
Energy Information Administration report on oil inventories is due to be released on Wednesday at 10:30a.m. Last week, the American Petroleum Institute (API) reported a build of 933,000 barrels of crude oil .