Melrose Industries, an engineering company that seeks to acquire businesses it understands, improve them by a mixture of investment and changed management focus, realise the value created and then return it to shareholders. I have a holding in my income portfolio (epic code: MRO)
The company issued an announcement today in response to press speculation that it is in the very early stages of considering the possible sale of Crosby, and also Acco. This follows on from their announcement on 1st May that they had signed a conditional agreement for the disposal of Truth Hardware for $200m (£120m). Crosby is likely to fetch approximately $900m.
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