Finnish Wärtsilä looks into buying HamworthyThursday, 17 November 2011
Finnish engine and Power Plant Company Wärtsilä is in negotiations over potentially buying Britain’s Hamworthy, which serves the marine, oil and gas industries.
Reports hold that in case Wärtsilä makes the offer, the company would be ready to pay 440 million euros for the purchase.
AdvertisementThe company would be prepared to pay over 20 percent in premium to Hamworthy’s closing share price, or 825 pence per share.
“Wärtsilä believes that the combined resource and competence base would improve the potential in the Offshore markets, help to capture a bigger share of the growing marine gas application market as well as create a stronger position within the rapidly evolving environmental solutions markets,” the company said in a press release.
Wärtsilä must announce the offer to the UK authorities by December 15 at the latest.
By Scancomark.se – Source Yle Finland
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