Metso Rejects Weir Merger Proposal

Metso, Finland, this week announced that it had been approached by The Weir Group, Scotland, with a proposal to discuss a potential merger of the two companies. Metso said that its board of directors carefully evaluated the Weir proposal, and unanimously concluded that it is not in the best interest of Metso shareholders.

The Metso board remains extremely positive and confident in its standalone growth and value creation prospects by pursuing its current strategy. As a consequence, the board has rejected Weir's proposal and says that it sees no reason to commence discussions regarding a potential combination.

TAPPI
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