Weir Group PLC (WEIR.L)
17 Apr 2014
|Market Cap (Mil.):||£5,465.94|
|Shares Outstanding (Mil.):||213.26|
* Metso shares down 3.5 pct, Weir down 1.5 pct (Adds premium calculated from Weir statement)
HELSINKI - Finnish engineering company Metso has rejected Weir's approach regarding a potential combination of the two rivals, saying on Wednesday that it saw no reason to start talks with the British company.
* Weir seeks Metso deal, but key Metso shareholder against
HELSINKI/LONDON - British engineering company Weir Group has approached Finnish rival Metso over a possible $5 billion combination that would expand its mining business, but Finland's state investment fund said it opposed a takeover.
* Top Metso shareholder, state fund Solidium, spurns deal
HELSINKI, April 1 - Finland's state investment fund Solidium is not keen on engineering group Metso being merged with Weir Group, its head said on Tuesday, adding Metso should remain independent.
* Stimulus chatter in China, U.S. lends support (Adds quotes, details, updates prices)
LONDON, April 1 - The Weir Group has proposed to Metso an all-share merger with a 60-40 split and 5-10 percent premium, a source familiar with the matter told Reuters.
LONDON, April 1 - European stocks got off to a brisk start in the second quarter, with merger-and-acquisition activity driving gains by industrial and mining stocks.
- London-listed engineering company Weir Group is said to be in talks to takeover its Finnish rival Metso Oyj in a 8.5 billion pounds ($14.17 billion) deal to expand its industrial pumps and valves market, the Times reported early Tuesday.