Charter told to let Melrose see books

CHARTER International, the London-listed engineering firm that owns Renfrew-based Howdens, must open up its books to potential suitor Melrose, according to some of its key investors.

Shareholders representing a 20 per cent stake in Charter said it must let down its defences against a 1.4 billion bid from Melrose and let the industrial turnaround specialist examine the group's financial position.