Uponor says Aliaxis bid attracting rival interest
24/05/2023 08:09
COPENHAGEN, May 24 (Reuters) - An unsolicited bid for
Finland's Uponor UPONOR.HE by Belgium's Aliaxis
BE0941243520.BR has attracted global attention among potential
rival bidders, a board member at the Finnish group said.
Water management group Aliaxis on Monday made an all-cash
offer for plumbing and heating systems maker Uponor worth 1.87
billion euros ($2.06 billion), a 3% increase over the Belgian
group's initial bid last month.
Uponor has rejected both offers, arguing they were
insufficient.
"It's a question of value. It's a question of maximizing
shareholder value. Maximizing the wealth of Uponor's owners,"
said Hans Sohlstrom, an Uponor board member who leads the
Finnish group's response to the Aliaxis bid.
The Belgian bids had attracted widespread attention, he
added.
"Practically everyone globally in this industry is aware of
the situation and of course, anyone who had any type of interest
in Uponor understands that this is the time to act," Sohlstrom
said.
"So basically the publicity that Aliaxis has brought to this
process has also triggered interest among players in this
industry globally."
Swiss industrial group Georg Fischer AG GF.S is also
exploring a potential offer for Uponor, potentially leading to a
bidding war for the Finnish company, Bloomberg News reported on
Tuesday, citing unnamed sources.
Georg Fischer did not immediately respond to a request for
comment when contacted by Reuters on Wednesday.
($1 = 0.9084 euros)
(F.sReporting by Elviira Luoma, Louise Rasmussen, editing by
Terje Solsvik)
((Louisebreusch.rasmussen@tr.com ; +45 21 27 97 79))