Alfa Laval: lowers shareholder acceptance level in Neles bid
(CercleFinance.com) - Alfa Laval said it has reduced its shareholder acceptance requirement to more than 50% from more than two thirds in a bid to complete its takeover of Neles, a Finnish group specialising in valve control systems.
In July, Alfa Laval announced that it was launching a friendly takeover for Neles, for a total price over 1.7 billion euros.
The Swedish engineering group is offering 11.5 euros in cash for each share, representing a premium of almost 33%.
In its statement today, Alfa Laval said it believes that it has presented a "fair offer" to Neles' shareholders, and that the terms and conditions of its offer remain unchanged.
Still, Alfa Laval has decided to extend the offer period to expire on 30 October, from 22 October previously.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
In July, Alfa Laval announced that it was launching a friendly takeover for Neles, for a total price over 1.7 billion euros.
The Swedish engineering group is offering 11.5 euros in cash for each share, representing a premium of almost 33%.
In its statement today, Alfa Laval said it believes that it has presented a "fair offer" to Neles' shareholders, and that the terms and conditions of its offer remain unchanged.
Still, Alfa Laval has decided to extend the offer period to expire on 30 October, from 22 October previously.
Copyright (c) 2020 CercleFinance.com. All rights reserved.