Melrose's offer for GKN lacks pizzazz – or a knockout price

Firm doesn’t want to be seen as asset-stripper but blood and thunder aren’t the only things missing from its £7bn bidIn the old days of blood-and-thunder hostile bids, the unveiling of the offer document was a big moment. The bidder would formally throw its cards on the tables, hurl a few choice insults at the target’s management and generally enliven proceedings. Melrose’s £7bn offer for GKN is proving to be lower in energy. That is not just because takeover