Uponor rejects rival Aliaxis' unsolicited offer (updated)
26/04/2023 06:54
(Adds comment from Uponor's board)
COPENHAGEN, April 26 (Reuters) - Finland's Uponor
UPONOR.HE said on Wednesday it rejected an unsolicited offer
from Belgian rival Aliaxis BE0941243520.BR , adding that the
suggested price of 25 euros per share did not reflect the
company's value and long-term prospects.
Uponor's board unanimously rejected the offer, but said it
would consider any further proposals made by Aliaxis or any
other party, if it was in the best interest of its shareholders.
Aliaxis last Monday made a $2 billion unsolicited offer to
buy Uponor, seeking to form a global water management group, and
the following Monday raised its stake in the Finnish company to
10.6%.
Oras Invest, Uponor's largest shareholder with about
25.7% of the company's shares, said on the day Aliaxis made its
unsolicited offer that it had no intention of accepting it.
(Reporting by Louise Breusch Rasmussen, editing by Terje
Solsvik and Essi Lehto)
((Louisebreusch.rasmussen@tr.com; +45 21 27 97 79;))