Metso Turns Down Merger Offer from Weir
Wednesday, April 16, 2014
On April 1, Metso acknowledged that it had been approached by The Weir Group with a proposal for commencing discussions regarding a potential combination of the two companies.
Today, Metso announced its board of directors has carefully evaluated the proposal received from Weir and has come to the unanimous conclusion that this proposal is not in the best interest of Metso shareholders. The board remains extremely positive and confident in Metso's standalone growth and value creation prospects by pursuing its current strategy. Therefore, the board has decided to turn down Weir's proposal and sees no reason to commence discussions regarding a potential combination. More...
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