(Reuters) – British engineer Melrose Industries will reposition itself into a purely aerospace focused group, Sky News reported on Tuesday, citing sources.
The company will make the announcement in its trading update on May 10, the report added.
The report said Melrose was likely to commit to shareholders that it will not pursue any material acquisitions, either in or outside the aerospace sector, over the next 12 months.
Melrose declined to comment.
(Reporting by Anchal Rana in Bengaluru; Editing by Shailesh Kuber)
