Commenting on news that leading company GKN has been subject to an attempted takeover by Melrose, Liberal Democrat leader Vince Cable said:

“GKN is at the heart of the industrial strategy in the car and aerospace industry in the UK.

“If it were to be taken over this would be a massive blow to our industrial strategy.

“GKN stands for long term investment in advanced manufacturing whereas Melrose are in the business of short term financial engineering.

“I will be writing to the Secretary of State for Business asking him to intervene and ensure this damaging takeover does not happen.”