GKN rejects Melrose's new hostile £8bn bid

Engineering group and union urge shareholders not to accept ‘final offer’ amid calls for inquiryMelrose increased its hostile takeover bid for GKN to £8bn on Monday, but the engineering multinational was joined by Britain’s biggest trade union in urging shareholders to reject the offer from a suitor its critics accuse of operating as an asset-stripper.However, a sizeable investor in both companies indicated it would accept the improved cash and shares bid from Melrose, wh