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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Alfa Laval AB    ALFA   SE0000695876

ALFA LAVAL AB

(ALFA)
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Delayed Quote. Delayed NASDAQ OMX STOCKHOLM - 11/27 11:29:44 am
222.3 SEK   +1.14%
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Alfa Laval Lowers Acceptance Level of Neles Bid, Extends Acceptance Period

10/15/2020 | 02:33am EST

By Dominic Chopping

STOCKHOLM--Alfa Laval AB said Thursday that it has lowered the acceptance level of its bid for Neles Oyj and extended the acceptance period.

Alfa Laval launched a 1.73 billion-euro ($2.03 billion) takeover bid for Neles in July and had set the acceptance period to expire on Oct. 22 with an acceptance level of more than two thirds. However, it has now extended the offer period to expire on Oct. 30, with an acceptance level of more than 50%.

Alfa Laval and Valmet Corp. have been vying for control of Neles over the last couple of months. Valmet has gradually increased its ownership in Neles to 29.5% and recently moved to try and scupper Alfa Laval's deal by sending Neles an unsolicited letter proposing a merger, but didn't disclose terms.

The Neles board has recommended shareholders accept Alfa Laval's bid, saying recently that it failed to get details of Valmet's counter proposal.

"If the tender offer is completed, Alfa Laval would assess alternatives to acquire the remaining shares in Neles over time," Alfa Laval said in a statement.

"However, no decisions concerning such transactions have been taken."

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

10-15-20 0232ET

Stocks mentioned in the article
ChangeLast1st jan.
ALFA LAVAL AB 1.14% 222.3 Delayed Quote.-5.77%
NELES OYJ 0.55% 10.93 Delayed Quote.5.82%
VALMET OYJ -0.69% 21.45 Delayed Quote.0.42%
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Financials
Sales 2020 41 692 M 4 909 M 4 909 M
Net income 2020 4 495 M 529 M 529 M
Net Debt 2020 1 118 M 132 M 132 M
P/E ratio 2020 20,7x
Yield 2020 2,31%
Capitalization 93 245 M 10 978 M 10 980 M
EV / Sales 2020 2,26x
EV / Sales 2021 2,17x
Nbr of Employees 16 921
Free-Float 70,9%
Chart ALFA LAVAL AB
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Technical analysis trends ALFA LAVAL AB
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 224,00 SEK
Last Close Price 222,30 SEK
Spread / Highest target 24,2%
Spread / Average Target 0,76%
Spread / Lowest Target -21,3%
EPS Revisions
Managers
NameTitle
Tom Erixon President & Chief Executive Officer
Dennis Jönsson Chairman
Mikael Tyden President-Operations Division
Jan Allde Chief Financial Officer
Finn Anders Egil Rausing Independent Director
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