Re: Pensions Old news from this morning Lupo. The trustees, advised by Mercer (did you look them up Lupo) appear satisfied.
Pensions [link] management exposed yet again.
Re: In any way, shape or form, is this not asset stripping? Presumably those poor dears still holding on to the vain hope GKN will remain as a stalwart 'British' company with ideals to match are as deluded as their management - exactly why Melrose is the best option to set the ship on another, much less catastrophic course. And which is why Melrose will win the war, discarding the upper echelons at GKN very quickly and creating real value in the process.
Posted on Advfn Great summary. So true.From Times Business News CommentaryTAKEOVER BATTLENot more corrections from Anne Stevens. Has someone got the GKN bosss 70th birthday wrong again an easy mistake, too, given its still listed at Companies House as March 1948?No, nothing to do as it happens with her official birthday or her real one in December. This time shes rebutting Melroses misleading statements ones the architects of the £8 billion bid didnt even rebut back, given they stand by all of them.Anyway, Ms Stevens denies that selling almost 53 per cent of the Driveline business to Dana is hasty and ill-thought through on the grounds that GKN had considered a tie-up with the US company for a number of years. Presumably, all the time it was denying it had any plans to split up the car and aircraft components group. Neither does she have any truck with Melrose claims it has adopted many of the ideas it set out for the aerospace business.Whatever. Still, it must be news to Melrose that it has absolutely no plan for the business. Its had absolutely the same plan since day one: buy, improve, sell a contrast to Ms Stevens, who has had a new plan most weeks. On January 18 she was correcting Melroses implication that GKN wanted a hasty break-up of the business. This is not the case, GKN declared, with Ms Stevens insisting GKNs current owners should retain 100 per cent of the upside of its turnaround.Weeks later she was flogging control of Driveline to Dana and putting the powder metallurgy arm on the block. Tot it up and Ms Stevens will be selling 73 per cent of group management revenue and 63 per cent of its trading profit. Or, as the Daily Mail is yet to put it Save GKN and keep control of 27 per cent of sales.
Re: Time to invite Melrose in PF - "invite Melrose in and talk to them."About what?
That should have read much not mush
I have taken up 60% and am using the rest to help partial funding. i would have taken up all of them but I am restricted within the amount i have in an ISA. They have been good to me in the past if they are half as good in the future I will be happy. I notice the directors have followed a similar line to me but with mush larger quantities.
They are two different animals. Melrose Industries is a totally different company set up around 2003. It is difficult to compare yields because of he way they operate. I have been a holder since the early days and have benefitted quite well for buying poorly managed companies and making them into good ones before reselling. This results in substantial special dividends. However this can be a bit confusing because there are ongoing dividends from some of the companies they do own.Most recently there was a big sale resulting in a special pay out.
It is my intention to take up half the rights in shares and the other half in cash to keep within an ISA, what exactly, and when do I do anything.