Aliaxis SA (ENXTBR : 094124352) made a non-binding intention to acquire remaining 95% stake in Uponor Oyj (HLSE : UPONOR) from Oras Invest Oy and others for €1.7 billion on April 17, 2023. The offer price is €25 cash per share. Aliaxis SA made an offer to acquire remaining 80% stake in Uponor Oyj from Oras Invest Oy and others for €1.5 billion on May 22, 2023. As of May 22, 2023, the offer price has been extended to €25.75 cash per share. As of may 24, 2023 Uponor Oyj (HEL:UPONOR) has turned down as under-priced a recently sweetened €1.9-billion takeoverbid from Belgian piping solutions provide rAliaxis SA (EBR:ALIAXIS). The offer is subject to certain conditions including, satisfactory conclusion of confirmatory due diligence and receipt of a recommendation from the Board of Directors of Uponor, approval of the Board of Directors of Aliaxis, approval by shareholders holding at least 60% of the shares of Uponor, entering into a combination agreement and receipt of all necessary regulatory approvals. Oras Invest has concluded that the potential offer indicated Aliaxis to acquire the shares in Uponor does not reflect the full value of Uponor. Oras Invest will not accept the potential offer by Aliaxis. As of April 26, 2023, the Board of Directors of Uponor have unanimously rejected the offer due to inadequate offer price. Morgan Stanley & Co International plc and Advium Corporate Finance are acting as financial advisor and Avance Attorneys Ltd and Cleary Gottlieb Steen & Hamilton LLP as legal advisors to Aliaxis.

Aliaxis SA (ENXTBR : 094124352) cancelled the offer to acquire remaining 95% stake in Uponor Oyj (HLSE : UPONOR) from Oras Invest Oy and others on June 14, 2023.