GKN is remaining tight-lipped concerning rumours it could be the subject of a takeover bid from Shanghai Automotive Industry Corporation (SAIC).

Speculation has centred on the Chinese manufacturer, which also owns the MG operation in the UK's West Midlands region, but GKN is holding its cards close to its chest.

"There is no official comment," was all GKN confined itself to noting to just-auto today (12 July) with further speculation noting an increase in the engineering group's share price.

Any potential approach from SAIC could likely be complicated by the fact GKN is also a major aerospace supplier to both the UK and US defence authorities.