Neles board recommends voting for Alfa offer over Valmet

The board of Finnish engineering firm Neles said it recommends shareholders accept buyout offer from Alfa Laval, saying it does not have enough details on Valmet merger offer to make "a meaningful comparison".

Oct 12 (Reuters) - The board of Finnish engineering firm Neles NELES.HE said it recommends shareholders accept buyout offer from Alfa Laval ALFA.ST, saying it does not have enough details on Valmet VALMT.HE merger offer to make "a meaningful comparison".

Valmet, the largest shareholder in valves maker Neles, approached Neles in September with a merger proposal, challenging a $2 billion bid from Swedish engineering group Alfa Laval.

(Reporting by Tarmo Virki in Tallinn, editing by Louise Heavens)

((tarmo.virki@thomsonreuters.com; +372 564 4562 ;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

ALFA

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More