Melrose says 'disregard' Mergermarket story, to waive CFIUS clearance condition

"Melrose confirms that no spokesperson authorised by Melrose made such comments, which should be disregarded."

It also said that the article contained a number of inaccuracies relating to a possible extension of the deadline for acceptances - 29 March - and the date by which all regulatory clearances have to be obtained.

Earlier, the company put out a statement saying it was prepared to waive one of the self-imposed conditions involved in its hostile £8.1bn bid for engineer GKN.

The company said it remains in "constructive discussions" with the Committee on Foreign Investment in the US - an agency that reviews transactions to determine whether their impact on national security. These include detailed discussions in respect of potential interim mitigation measures, which would leave in place any existing mitigation arrangements pending receipt of CFIUS and Diplomatic Security Service approvals.

"On the basis of these discussions, if and to the extent that CFIUS and DSS approvals have not been received before 17 April 2018, Melrose confirms it will waive the CFIUS and DSS conditions to its offer by no later than 17 April 2018 so as to allow the offer to become unconditional in all respects by no later than 19 April 2018."

In what has become an almost daily occurrence since the hostile bid was first announced back in January, Melrose also took the opportunity to remind investors of the superiority of its plans over GKN's.

Melrose chairman Christopher Miller wrote in a letter to be sent to GKN shareholders ahead of the 29 March deadline: "We are now entering the final few days of the offer timeline. The facts speak for themselves: we have the best team to re-energise and repurpose GKN, change the culture and help your company live up to its full potential, creating real value for you."