Something that amuses about the attempted takeover of GKN. That being that the company has grown itself through a series of takeovers covering a couple of hundred years. It’s more than a little rich for them to be claiming that a company shouldn’t be taken over therefore:
As the takeover deadline looms, MPs and unions voice fears for Britain’s industrial future if the deal is allowed to go ahead
Airbus has said it won’t be able to offer GKN new work if it can no longer guarantee long-term investment in R&D. Photograph: Bloomberg/Bloomberg via Getty Images
It is a company that dates back to Britain’s industrial revolution: an ironworks in south Wales that started in 1759 and supplied the tracks for Brunel’s Great Western Railway. It has become, as GKN, a global engineering giant supplying car and aerospace parts, employing 60,000 around the world and 6,000 in the UK. But now corporate raiders loom in the form of a controversial £7.8bn hostile bid – in which Theresa May’s government has been sidelined, despite its aspiration to develop a new UK industrial strategy.
It’s all rather diddums, isn’t it? And they can’t really even complain or call into account economic nationalism. They took over a Japanese company, a couple of American ones, a German and so on.
A company that lived by acquisition might end up being dismembered by acquisition.