SAIC sniffing out GKN?

Shares in GKN rose 4 percent to 246.9 pence in strong volume on Thursday, with traders citing talk of bid interest for the UK auto and aerospace parts maker.

Two traders cited Chinese automaker SAIC Motor Corp as a possible bidder with a price being touted around 350 pence per share.

GKN, the aerospace and car parts maker, said Stromag will expand the company in the renewable energy sector and grow its offering of next-generation technology.

Stromag is an engineer of clutches and electro-magnetic brakes for agricultural equipment, wind turbines, mining machinery, and the construction industry. It is based in Germany but also has operations in France, the US, Brazil, India and China.