THE Prime Minister has spoken out on a £7.4 billion hostile takeover attempt of Redditch firm GKN, suggesting she is ready to block it if it is not in the national interests.

Bankers, financiers, lawyers and public relations executives stand to make around £140 million if Melrose succeeds in its bid for Redditch engineering firm GKN, according to Unite.

The union said the “eye-watering” sum includes up to £69m in financing arrangements, up to £50m for financial advice, £9m for legal advice and millions on public relations and professional services.

Melrose's approach for GKN has been met with further caution as the engineering firm makes parts for UK army tanks, helicopters and fighter jets.

In the House of Commons this week, Birmingham MP Jack Dromey suggested the Government could intervene if a takeover damaged the UK's defence power.

Theresa May responded: "Of course the Business Department will be looking closely and have been following closely the issue that he has raised.

"I can ensure him that I and the Government as a whole will always act in the UK national interest."

Redditch MP Rachel Maclean has also that she will be meeting the Secretary of State this week to "urge him to act to protect local jobs".

She said this week: “This is not a benign takeover in the best interests of the long-term sustainability of the economy.

"Melrose have a record of asset stripping companies they purchase for short-term gain. They are not long-term investors."