GKN.L - GKN plc

LSE - LSE Delayed Price. Currency in GBp
418.80
-3.50 (-0.83%)
As of 9:08AM GMT. Market open.
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Previous Close422.30
Open419.00
Bid418.70 x 100000
Ask418.80 x 603100
Day's Range418.00 - 421.00
52 Week Range280.00 - 449.40
Volume386,742
Avg. Volume12,820,227
Market Cap7.185B
BetaN/A
PE Ratio (TTM)14.39
EPS (TTM)29.10
Earnings DateFeb 27, 2018
Forward Dividend & Yield0.07 (1.40%)
Ex-Dividend Date2017-08-10
1y Target Est436.88
  • Corbyn warns bankers - finance will serve Britain under Labour
    Reuters2 days ago

    Corbyn warns bankers - finance will serve Britain under Labour

    Britain's financial sector will be "the servant of industry not the masters of all" if the opposition Labour Party gets into power, its leader Jeremy Corbyn said on Tuesday, accusing bankers of taking the economy hostage. Corbyn, a socialist who has won over many voters with promises to renationalise services and increase public spending, has long targeted London's lucrative financial sector, saying politicians have been in thrall to money-makers for too long. In a speech to a manufacturers' conference, Corbyn renewed his pledge to "reprogramme" Britain's economy if he wins power in an election not due until 2022.

  • Reuters2 days ago

    UPDATE 2-Corbyn warns bankers: finance will serve Britain under Labour

    Britain's financial sector will be "the servant of industry not the masters of all" if the opposition Labour Party gets into power, its leader Jeremy Corbyn said on Tuesday, accusing bankers of taking the economy hostage. Corbyn, a socialist who has won over many voters with promises to renationalise services and increase public spending, has long targeted London's lucrative financial sector, saying politicians have been in thrall to money-makers for too long.

  • Jeremy Corbyn Has a Point About Bankers
    Bloomberg2 days ago

    Jeremy Corbyn Has a Point About Bankers

    It's right to question the long-term benefits of dealmaking.

  • Reuters7 days ago

    GKN chairman tells investors Melrose bid is 'low price and high risk'

    Turner said Melrose has a short-term business model that is inappropriate for GKN, criticising a bid that has also attracted the attention of the British government because of the company's position as a leading engineering group and large employer. With a market capitalisation of more than 7 billion pounds, GKN is a mainstay in the British engineering sector, generating close to 1 billion pounds of UK sales.

  • Moody's7 days ago

    GKN Holdings plc -- Moody's affirms GKN Holding's Baa3 ratings, stable outlook unchanged

    Moody's Investors Service, ("Moody's") has today affirmed the Baa3 senior unsecured ratings and (P)Baa3 senior unsecured MTN Programme ratings of GKN Holdings plc, the finance, investment and ...

  • Taking Up Arms Against the Hedge Fund View of the World
    Bloomberg8 days ago

    Taking Up Arms Against the Hedge Fund View of the World

    GKN's defense against Melrose has merit, but it helps if you have a longer-term horizon.

  • Reuters8 days ago

    Fighting bid, GKN pledges to return 2.5 billion pounds to investors

    GKN, facing a 7.4 billion pound hostile bid from turnaround specialist Melrose Industries, said last month it would separate its aerospace and automotive divisions to try to improve profitability. Investors had been calling for GKN to split its businesses as management persistently failed to meet targets to improve profit and cash flow despite growing sales. GKN issued a profit warning in October, which was sparked by the difficulties at its aerospace business.

  • The Wall Street Journal8 days ago

    [$$] GKN to Return £2.5 Billion to Shareholders

    GKN said it plans to return £2.5 billion to shareholders over the next three years, and pay 50% of free cash flow as dividends up to 2020.

  • Bloomberg8 days ago

    GKN Offers Investors $3.5 Billion in Cash to Rebuff Melrose

    GKN Plc sharpened its argument against a hostile takeover attempt by Melrose Industries Plc, outlining plans to divest businesses representing a quarter of its sales, slash costs and return 2.5 billion ...

  • Financial Times8 days ago

    [$$] Dyson should not rule out taking company public over electric cars

    Sir James Dyson has little obvious in common with the Reverend Ian Paisley. But when it comes to taking his company public, the cerebral engineer is starting to sound like the firebrand Ulsterman — who ...

  • Reuters10 days ago

    PRESS DIGEST- British Business - Feb 12

    Feb 12 - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times Melrose Industries Plc accused ...

  • Reuters13 days ago

    GKN says Melrose offer needs more time for U.S. scrutiny

    British engineering group GKN (GKN.L) told shareholders considering a 7 billion pound hostile offer from Melrose Industries (MRON.L) that any deal was unlikely to secure U.S. approval by the current late April deadline. GKN, a supplier of components to military aircraft that opposes the bid, said it would agree to a deadline extension if Melrose requested one from Britain's Takeover Panel. The British turnaround specialist, which launched its unsolicited offer last month after two GKN profit warnings, said it did not expect such an extension would be necessary.

  • Reuters15 days ago

    Melrose welcomes UK government engagement on GKN bid - spokesman

    LONDON (Reuters) - Melrose Industries, the turnaround specialist pursuing a hostile bid for GKN, would welcome opportunities to explain to the British government why a deal "will create an industrial ...

  • Reuters15 days ago

    Britain looking closely at Melrose bid for GKN - May

    The hostile takeover pursuit of engineering company GKN by Melrose Industries is receiving close attention from the British government, Prime Minister Theresa May said on Wednesday. The bid by the turnaround specialist has escalated into a war of words between the two UK companies and prompted the Unite union to warn that a deal could threaten jobs. Melrose's cash-and-shares hostile offer values GKN at about 7 billion pounds but has been rejected as "derisory" by Anne Stevens, chief executive of the aerospace and automotive parts business.

  • Reuters21 days ago

    Melrose and target GKN trade blows in bid battle

    Melrose Industries (MRON.L) pressed the case for its 7.2 billion pound hostile bid for British engineer GKN (GKN.L) on Thursday, ruling out a "hasty separation" of GKN's automotive and aerospace if it won control. Its offer document, followed later by a trading update from Melrose emphasising the turnaround specialist's track record, drew a blunt response from GKN (GKN.L) which again urged its shareholders to reject the approach. "This offer is derisory," Anne Stevens, the former Ford executive who became GKN chief executive last month, said in a statement, accusing Melrose of trying to buy it on the cheap.

  • Reuters22 days ago

    Melrose to publish formal bid document for GKN on Thursday - source

    Melrose Industries is preparing to publish the formal offer document detailing its 7.4 billion-pound hostile bid for British engineer GKN on Thursday, according to a source close to the situation. The London-listed industrial turnaround specialist did not plan to increase its bid for GKN when it issues the offer document, the source said. Melrose made a firm paper-and-cash offer on Jan. 17, which at the time valued GKN at 430.1 pence-a-share.

  • Reuters24 days ago

    GKN says hostile bidder Melrose's debt plan could hit pension scheme

    GKN (GKN.L) issued a new salvo on Monday against a hostile bid by Melrose (MRON.L) by warning that raising the company's debt ratio could reduce the strength of its covenants and therefore increase the cash needed to fund its pension. GKN said the strength of its covenant was critical to its investment strategy and the amount it paid into its schemes, and it said it was assessed at the "high end of good" during its last triennial valuation. It said had stated it would increase GKN's leverage to 2.5 times core earnings, materially higher than the leverage level of 0.6 times in mid-2017.

  • Reuters24 days ago

    Melrose proposed 150 million-pound contribution to GKN pensions - source

    LONDON (Reuters) - Melrose Industries offered to make a voluntary contribution of as much as 150 million pounds ($211 million) to GKN's pension schemes as part of its initial bid approach to the British ...

  • Reuters24 days ago

    UK Stocks-Factors to watch on Jan 29

    Jan 29 (Reuters) - Britain's FTSE 100 index is seen opening 18 points higher at 7,683.7 on Monday, according to financial bookmakers. * CARILLION: British construction outsourcing company Carillion Plc ...

  • Reuters27 days ago

    Hedge fund Elliott Management buys stake in UK pay-TV group Sky

    (Reuters) - Hedge fund Elliott Management Corp, founded by Paul Singer, has built a stake in Sky Plc (SKYB.L), according to a regulatory filing published on Friday. The fund's subsidiary, Elliott Capital ...

  • Reuters27 days ago

    GKN received several approaches for business after Melrose bid - FT

    A top-20 investor said he understood there had been 10-15 approaches made for the GKN's automotive business since the board announced plans to split the company in response to the Melrose bid, the FT also reported. GKN, a British firm that makes parts for the Boeing 737 jet and components for Volkswagen and Ford cars, rebuffed a 7.4 billion pounds offer by Melrose last week, on the grounds that the terms of the paper-and-cash bid are "effectively unchanged" from an earlier approach made by Melrose, which was also rejected. Melrose later responded to the criticism of its offer for the much larger GKN saying that the rise in the companies' share prices showed the merit of its bid.

  • Reuterslast month

    Melrose says rising shares show the value of its GKN bid

    Melrose was responding on Thursday to earlier criticism of its cash-and-shares offer from the much larger GKN, a British firm that makes parts for the Boeing 737 jet, Black Hawk helicopter and components for Volkswagen and Ford cars. GKN, which traces its roots back to the 18th century, said Melrose's claim to be offering its shareholders a 32 percent premium was "fake", not least because most of the cash for the proposed deal would effectively be funded by GKN investors. With a much higher debt-to-core earnings ratio, Melrose would be using GKN to leverage up the combined business to fund the cash part of its offer, GKN said.

  • Reuterslast month

    Deals of the day-Mergers and acquisitions

    Jan 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1100 GMT on Thursday: ** British engineering group GKN dismissed Melrose's 7.4 billion pound ($10.2 billion) ...

  • Fake News Comes to Hostile Takeovers
    Bloomberglast month

    Fake News Comes to Hostile Takeovers

    GKN's claims can't obscure the weakness of its defense.

  • Reuterslast month

    FTSE edges down, Interserve wobbles in post-Carillion scare

    UK shares edged down on Wednesday as a flurry of corporate news triggered sharp moves, including for contractor Interserve after the Financial Times reported the British government was monitoring it following the collapse of competitor Carillion. The blue chip FTSE 100 index ended the session 0.4 percent lower at 7,725.43 points, underperforming the broader European market. Within small market capitalisations, Interserve saw its shares tumble around 15 percent at the open then gradually recoup most of its losses, closing 0.4 percent lower.