LONDON (Reuters) - Melrose Industries offered to make a voluntary contribution of as much as 150 million pounds ($211 million) to GKN's pension schemes as part of its initial bid approach to the British engineering company on Jan. 8, according to a source familiar with the matter.
It comes after GKN (LON:GKN) said on Monday that the debt involved in Melrose's hostile takeover offer could result in its retirement plans requiring more cash.