Scotland's Weir Group insists that its proposed consolidation with its Finnish engineering rival, Metso, would offer considerable strategic benefits to both companies. The Scottish engineering group reiterated its belief on Wednesday, after the board of directors at Metso had announced their decision to turn down the offer to commence merger talks.
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Scottish rival still chasing Metso
“It was not a takeover offer as such but an offer to launch negotiations. Negotiations with the Weir Group were never held,” stresses Mikael Lilius, the board chairman at Metso. According to him, the decision of the board was unanimous.