LONDON—British turnaround specialist Melrose Industries PLC on Thursday won a bruising takeover battle for GKN PLC, thwarting a $6.1 billion bid by Ohio-based auto-parts maker Dana Inc. to combine with its U.K. rival. GKN, one of Britain’s oldest businesses, in January rejected an unsolicited £7.4 billion ($10.5 billion) takeover offer from Melrose, saying it undervalued the company, which makes components for General Motors Co., Boeing Co. and Airbus SE. Melrose took its cash-and-stock proposal to GKN shareholders, winning...

Source: Wall Street Journal March 29, 2018 16:00 UTC