Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  GKN    GKN   GB0030646508

GKN (GKN)
Mes dernières consult.
Most popular
  Report  
Delayed Quote. Delayed  - 02/23 05:35:18 pm
426.5 GBp   +0.35%
02/23GKN PLC : - Holding(s) in Company
PR
02/23EATON VANCE COR : - Form 8.3 - Melrose Industries plc
PR
02/23EATON VANCE COR : - Form 8.3 - GKN Plc
PR
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/14/2018 | 09:36am CET

(Reuters) - British engineering group GKN, seeking to fend off a hostile takeover bid, pledged to return 2.5 billion pounds to shareholders over the next three years following a review of its business.

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 company said on Wednesday it began an operational separation of the divisions.

GKN, which makes parts for the Boeing 737 jet, Black Hawk helicopter and components for Volkswagen and Ford cars, says it also expects to deliver a recurring annual cash benefit of 340 million pounds from the end of 2020 from its cash improvement initiative, known as Project Boost.

"This strategy is expected to generate significant cash for shareholders in the short term and meaningful sustainable cash flows over the mid to long term," said Chief Executive Anne Stevens.

Stevens, appointed last month on a permanent basis, added that a significant part of the cash benefits is expected to come from divestments within the first 12 to 18 months.

Melrose made a firm offer to buy GKN on Jan. 17 valued at 430.1 pence per share or 7.4 billion pounds, which GKN swiftly rejected the same day.

Melrose's offer for GKN consists of 1.49 new Melrose shares and 81 pence per GKN share.

GKN shares traded 1.4 percent higher at 403.4 pence by 0830 GMT, while Melrose stock was up 0.7 percent at 213.7 pence.

(Reporting By Justin George Varghese in Bengaluru; Editing by Keith Weir)

Stocks treated in this article : GKN, Melrose Industries
Stocks mentioned in the article
ChangeLast1st jan.
MELROSE INDUSTRIES 0.27% 226.9 Delayed Quote.6.93%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GKN
02/23GKN PLC : - Holding(s) in Company
PR
02/23EATON VANCE CORP. : - Form 8.3 - Melrose Industries plc
PR
02/23EATON VANCE CORP. : - Form 8.3 - GKN Plc
PR
02/23INVESTEC ASSET MANAGEMENT LIMITED : - Form 8.3 - Melrose Industires Plc
PR
02/23GKN : Form 8.3 -
PU
02/23GKN : Form 8.5 (EPT/RI) - GKN PLC
PU
02/23GKN : Form 8.3 - Melrose Industries PLC
PU
02/23GKN : Form 8.3 - GKN Plc
PU
02/22EATON VANCE CORP. : - Form 8.3 - Melrose Industries Plc
PR
02/22GKN : Form 8.3 - GKN
PU
More news
News from SeekingAlpha
2017GKN (GKNLY) Presents At Robert W. Baird 2017 Global Industrial Conference - S.. 
2017GKN's (GKNCF) on Q1 2017 Results - Earnings Call Transcript 
2017GKN's (GKNCF) CEO Nigel Stein on Q4 2016 Results - Earnings Call Transcript 
2017GKN Plc 2016 Q4 - Results - Earnings Call Slides 
2017GKN Plc reports FY results 
Financials ( GBP)
Sales 2017 10 225 M
EBIT 2017 709 M
Net income 2017 391 M
Debt 2017 846 M
Yield 2017 2,19%
P/E ratio 2017 18,99
P/E ratio 2018 17,98
EV / Sales 2017 0,80x
EV / Sales 2018 0,77x
Capitalization 7 300 M
Chart GKN
Duration : Period :
GKN Technical Analysis Chart | GKN | GB0030646508 | 4-Traders
Technical analysis trends GKN
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 4,37  GBP
Spread / Average Target 2,8%
EPS Revisions
Managers
NameTitle
Anne L. Stevens Chief Executive Officer & Director
Michael John Turner Chairman
Gavin Wesson Senior Vice President-Operations & Programmes
Jos Sclater Executive Director & Group Finance Director
William James Hoy Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
GKN33.53%10 195
CONTINENTAL0.78%56 751
DENSO CORP-9.02%46 136
DELPHI AUTOMOTIVE9.56%24 603
HYUNDAI MOBIS CO., LTD.--.--%20 279
MAGNA INTERNATIONAL INC.0.55%20 115