Labour leader attacks Tories over engineering firm’s takeover by ‘asset stripper’ MelroseJeremy Corbyn has accused the government of putting the profits of speculators before the interests of staff at one of Britain’s oldest engineering firms,which is the thing of a hostile takeover deal that has been labelled an “abuse of capitalism”.
On Thursday, shareholders in GKN, or which made cannonballs for the Battle of Waterloo and Spitfires for the second world war,voted to accept an £8.1bn offer from Melrose, a firm that specialises in turning round failing companies and selling them on at a profit, and which has been labelled an “asset stripper”.
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Source: guardian.co.uk