Labour leader attacks Tories over engineering firm’s takeover by ‘asset stripper’ Melrose
Jeremy 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 object of a hostile takeover deal that has been labelled an “abuse of capitalism”.
On Thursday, shareholders in GKN, which made cannonballs for 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”.
You know things are bad when the Daily Mail calls out a rigged economic system.
The Tories have put the interests of city speculators over people's jobs.
Labour would have stopped the takeover of GKN and in government we'll make our economy work for the many, not the few. pic.twitter.com/J8U7rmK9BI
from Mergers and acquisitions | The Guardian https://ift.tt/2GIzmcn
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