The Weir board believes that there is a strong strategic rationale for bringing the two companies together which would offer the opportunity for significant efficiencies and synergies.
Weir envisages that the merged entity would be listed on both the London and Helsinki Stock Exchanges.
In a statement, Metso said that it had recently received an unsolicited approach by Weir with a proposal for commencing discussions concerning a potential combination of the two companies. The company is in the process of considering Weir’s proposal.
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