Weir supports merger despite Metso rejection

• Autores: Kasia Patel
• Localización: Industrial Minerals, ISSN 0019-8544, Nº. 560, 2014 (Ejemplar dedicado a: Mayo)
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • Weir's proposal offered a 5 to 10% premium over Metso's recent share price, and the merger would, according to Weir's plans, have a combined board staffed by both Metso and Weir executives.

    Under the terms of the offer, Weir proposed an all-share merger under which Metso shareholders would receive 0.8400 Weir shares per Metso share held, which would result in around 37% ownership by Metso shareholders of the combined company.

    According to [Nick Wilson], one benefit Weir could bring to Metso is the improvement of the Finnish company's share of after-market services, as Weir captures 90% of after-market service and replacement business on the equipment it sells, while Metso's after-market share is much lower at 50%.