<sod >Melrose, a Birmingham-based investment house that specialises in improving other companiesÃÂ¢ÃÂÃÂ performances, has upped its offer for engineering firm GKN with a hostile takeover bid of ÃÂÃÂ£7.4bn.< eod>< sod > The latest bid put forward by Melrose, a Birmingham-based investment house that specialises in improving other companiesÃÂ¢ÃÂÃÂ performances, values GKN at 430.1 pence a share, up from a previous offer announced last week of 405 pence, or ÃÂÃÂ£7bn.< eod>