The offer represented a price of 405p per share, comprising 80% in new Melrose shares and 20% in cash.
Shares in GKN, which makes wing tips for Airbus planes and parts for Porsche cars, jumped more than a quarter to 423p.
Instead, the firm confirmed in a statement on Friday it had chose to split out the automotive and aerospace into two separate companies as part of a two-year "transformation programme", ending months of speculation over the firm's future. GKN shareholders would have ended up with a 57% stake in the combined business.
"In addition, the Proposal would materially dilute the exposure of GKN shareholders to the meaningful upside opportunities that the Board believes are present within the Company".
Its board, in tandem with financial advisers Gleacher Shacklock, JP Morgan Cazenove and UBS, "unanimously rejected" the proposal, which it deemed "entirely opportunistic" and to "fundamentally undervalue" the company and its prospects. Takeover rules mean it must make a firm offer by 9 February or walk away for six months.
The timeframe has not be specified but will "maximise the economic benefits and minimise the costs", says GKN.
GKN, which used to be known as Guest, Keen and Nettlefolds and traces its history back to 1759, has struggled in recent years and its profit warning came after a downturn in its USA aerospace business.
Pilots Still Struggle to Land Planes at SFO
The flight landed safely on its second approach, but this is the third known apparent close call on a runway at SFO since July. They ordered the Aeromexico flight to delay its landing and circle back around.
One person killed in head-on collision on Highway 102
The Corolla's 36-year-old driver and a four-year-old boy in the vehicle were taken to hospital and are expected to survive. Police say three of the injured individuals were airlifted to hospital, while the fourth person was taken by ambulance.
'The separation of the automotive and aerospace units has been on the cards for years, with little obvious cross over between the two businesses, ' he said.
"Historically, the pension deficit has held the group together, but with the sprawling footprint likely to have contributed to recent profit warnings, the reasons for divorce now seem to outweigh the costs of splitting", he said.
In the US , the Labor Department reported that weekly jobless claims rose by 11,000 to 261,000 new claims, a three-month high. Among other precious metals, spot silver was up 0.2pc at $16.97 an ounce from a two week low of $16.86 on Wednesday.
After $0.31 actual EPS reported by Hilltop Holdings Inc. for the previous quarter, Wall Street now forecasts 25.81% EPS growth. Hgk Asset Mngmt holds 1.88% of its portfolio in International Business Machines Corporation (NYSE: IBM ) for 91,208 shares.
He faces felony charges related to the manufacturing and distribution of methamphetamine and the improper disposal of chemicals. During his time on the reality show alongside Evans, Delp engaged in multiple run-ins with authorities.
New research on the fuel costs of electric vehicles may help push consumers toward plug-and-drive cars such as the Model 3 . Tesla has stated that it began manufacturing Solar Roof tiles last month at its gigafactory in Buffalo, New York.
The stock was acquired at an average price of GBX 237 ($2.96) per share, for a total transaction of £4,365.54 ($5,448.07). The stock of Safestore Holdings plc (LON:SAFE) has "Hold" rating given on Wednesday, June 22 by Peel Hunt.
Moreover, Ameritas Prns Inc has 0% invested in Eldorado Resorts, Inc. (NASDAQ: ALGN ). 239 were accumulated by Smithfield Trust. It dropped, as 36 investors sold ALGN shares while 194 reduced holdings. 77 funds opened positions while 137 raised stakes.
I don't think I've ever made three eagles in a round so I'm happy", said the Nedbank Golf Challenge champion. Paisley, who is seeking his first European Tour title, said: 'I'm really happy coming off five weeks off.
BMW, Mercedes-Benz, General Motors and Fiat-Chrysler Automobiles have all faced similar litigation over diesel emissions. EPA emissions regulations" according to a statement sent by Ford spokesman Mike Levine.
The average Wall Street analyst rating for Intuitive Surgical, Inc.is Strong Buy, according to the average of 19 analyst scores. Cullen Frost Bankers reported 1,449 shares or 0.05% of all its holdings. (NASDAQ:TCX) to report earnings on February, 6.
Since McHV-1 was identified in 1932, researchers have only documented 50 cases of human infections, all from captive macaques. Macaques were introduced to the Sunshine State's Silver Springs State Park as a tourist attraction nearly 100 years ago.
No conversation has been publicly reported between any sitting USA president and a North Korean leader in decades, if ever. Kim has, in response, aggressively threatened to tame Trump with fire, calling Trump a " dotard " and "old lunatic".
Chemring Group PLC develops, manufactures, and sells protection solutions for defense and security markets worldwide. Chou Associates Management Inc decreased Overstock Com Inc Del (OSTK) stake by 50.77% reported in 2017Q3 SEC filing.
India thrash Pakistan by 7 wickets
For the Men in Green, the top scorer of the inning was Md Jail who added 90 runs at a healthy strike rate of nearly a run a ball. Thanks to the victory, India are placed on the top of the points table, followed by Pakistan and Sri Lanka in their group.
Dakar 2018 Stage 5 Results
Oriol Mena continued his solid run from yesterday to finish the stage at 23rd position, and an overall 21st place. David Casteu, the team manager, said, "The whole team is thinking about him and wishes him a speedy recovery".
GlaxoSmithKline (GSK) Downgraded by ValuEngine
Energy Opportunities Capital Management Llc sold 16,675 shares as the company's stock declined 3.74% while stock markets rallied. The shares were purchased at an average cost of GBX 1,518 ($20.30) per share, for a total transaction of £7,180.14 ($9,600.40).
Bears Hire Helfrich as OC
Hiring a veteran defensive coordinator was paramount for Nagy, a first-time head coach who will be directing the offense. After 21 years of coaching collegiately, Mark Helfrich is making the jump to the NFL.
U.S. factory activity accelerates in December
Tremendous December gains in domestic manufacturing made 2017 the strongest year for United States manufacturing since 2004. The ISM's headline manufacturing index rose to 59.7 from 58.2 in November, beating expectations for a drop to 58.1.