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

ALFA LAVAL AB

(ALFA)
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Alfa Laval Says Preliminary Data Show It Has Failed With Bid For Neles

11/02/2020 | 04:41am EST

By Dominic Chopping

STOCKHOLM--Alfa Laval AB said Monday that the preliminary result of its bid for Neles Oyj shows it has received acceptances representing 33% of the shares in Neles, below the 50% it had targeted to complete the deal.

Alfa Laval launched a 1.73 billion-euro ($2.01 billion) takeover bid for Neles in July and originally set the acceptance period to expire on Oct. 22 with an acceptance level of more than two thirds. However, it later extended the offer period to expire on Oct. 30, with an acceptance level of more than 50%.

The company said it will announce the final result of the offer on or about Nov. 4, but if it confirms the number of shares acquired remains at the same level as indicated by the preliminary result, it will not complete the takeover.

Alfa Laval and Valmet Corp. have been vying for control of Neles over the past couple of months. Valmet has gradually increased its ownership in Neles to 29.5% and recently moved to try to 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.

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

(END) Dow Jones Newswires

11-02-20 0431ET

Stocks mentioned in the article
ChangeLast1st jan.
ALFA LAVAL AB -0.46% 236.4 Delayed Quote.4.95%
NELES OYJ 0.66% 10.705 Delayed Quote.-2.03%
VALMET OYJ -0.57% 26.4 Delayed Quote.13.66%
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2020ALFA LAVAL : wins SEK 75 million wastewater treatment order in Singapore
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2020ALFA LAVAL : adapts the organization to changing market fundamentals
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Financials
Sales 2020 41 522 M 5 010 M 5 010 M
Net income 2020 4 192 M 506 M 506 M
Net Debt 2020 2 027 M 245 M 245 M
P/E ratio 2020 23,8x
Yield 2020 2,14%
Capitalization 99 159 M 11 961 M 11 964 M
EV / Sales 2020 2,44x
EV / Sales 2021 2,39x
Nbr of Employees 16 921
Free-Float 70,9%
Chart ALFA LAVAL AB
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Technical analysis trends ALFA LAVAL AB
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 234,59 SEK
Last Close Price 236,40 SEK
Spread / Highest target 22,7%
Spread / Average Target -0,77%
Spread / Lowest Target -19,6%
EPS Revisions
Managers and Directors
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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