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Melrose rises sharply after probe into GKN is dropped

Shares of Melrose Industries climbed more than 8% after the Orange County prosecutor declined to pursue criminal charges in connection with the incident at GKN Aerospace in Garden Grove. GKN plans to resume full production at the site by September 28 and aims to fulfill customer deliveries for the fourth quarter. Melrose announced a compensation program of up to $100 million for damages caused by the evacuation; the insurance position remains unchanged. » More on de.investing.com