GKN fires broadside against hostile £7bn Melrose bid

UK engineering group GKN has written a formal letter to its shareholders calling the £7bn plus debt-financed hostile takeover bid from industrial conglomerate Melrose 'low price and high risk', prompting yet another quick fire public response from the potential buyer.

  • By Michael Turner
  • 15 Feb 2018

Loans bankers are keeping a close eye on the unfolding public battle between the two companies’ boards, with bankers expecting the fresh debt raised to be “substantial”.

In response to the GKN letter, Melrose confirmed that it has debt lined up on investment grade terms to pay ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Global Syndicated Loan Volume

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 301,936.72 832 10.90%
2 Bank of America Merrill Lynch 260,879.45 871 9.41%
3 Citi 164,004.94 495 5.92%
4 Wells Fargo Securities 144,846.02 567 5.23%
5 MUFG 113,207.50 646 4.08%

Bookrunners of Middle East and Africa Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 3,471.92 10 7.34%
2 Standard Chartered Bank 3,339.74 12 7.06%
3 JPMorgan 3,173.44 8 6.71%
4 Mizuho 2,818.52 8 5.96%
5 Sumitomo Mitsui Financial Group 2,575.67 5 5.44%

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 13,554.26 61 7.13%
2 Deutsche Bank 11,901.17 45 6.26%
3 Credit Agricole CIB 11,825.01 52 6.22%
4 Goldman Sachs 10,865.30 45 5.71%
5 UniCredit 10,484.86 60 5.51%

Bookrunners of European Marketed Syndicated Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 32,522.19 61 6.56%
2 BNP Paribas 32,284.10 130 6.51%
3 UniCredit 26,992.47 123 5.44%
4 SG Corporate & Investment Banking 26,569.73 97 5.36%
5 Credit Agricole CIB 23,807.36 111 4.80%

Syndicated Loan Revenue - EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Apr 2016
1 HSBC 35.45 69 6.71%
2 BNP Paribas 31.67 78 5.99%
3 ING 31.21 74 5.90%
4 Citi 22.60 36 4.27%
5 Deutsche Bank 21.89 32 4.14%