Following yesterday’s (March 27) statement from the Secretary of State for Business, Energy & Industrial Strategy, Greg Clark, in which he confirmed he has written to Melrose demanding binding commitments over its multi-billion-pound bid for GKN, Rachel has issued the following response:
“I welcome the legally binding commitments the Business Secretary has sought in his letter to Melrose, in a move which I welcome.
“Throughout this process I have been deeply concerned about the 260 jobs at GKN’s headquarters in Redditch which could be lost if this takeover bid is accepted. I met with the Business Secretary to express my concerns and I’m glad to see he’s listened and I know this at the top of his agenda.
“The Business Secretary has indicated that shareholders should take into account broader interests, including the interests of employees, business relationships with suppliers, the impact on the community, the environment and pensions. Mr Clark said that he believes this should all be taken into account by the Government as well.
“Although these assurances from Melrose are welcome, I understand GKN staff will still be worried about their future and that’s why I’m urging shareholders to take into account the wider interests the Business Secretary has raised.”