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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Neles Oyj    NELES   FI4000440664

NELES OYJ

(NELES)
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Neles Recommends Alfa Laval Bid as Details of Valmet Approach Remain Unclear

10/12/2020 | 03:30am EST

By Dominic Chopping

Finland's Neles Oyj said Monday that it continues to recommend Alfa Laval AB's 1.73 billion-euro ($2 billion) takeover bid for the company, after failing to get details of a counter proposal from Valmet Corp.

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

"We've worked... to build a dialogue and to clarify Valmet's approach," Neles Chairman Jukka Moisio said, but added that "there is no concrete proposal from Valmet's board of directors available to Neles which we could fairly assess from the perspective of Neles shareholders."

Neles said it therefore continues to recommend that the company's shareholders accept the public cash tender offer by Alfa Laval, which is expected to expire on Oct. 22.

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

(END) Dow Jones Newswires

10-12-20 0329ET

Stocks mentioned in the article
ChangeLast1st jan.
ALFA LAVAL AB 1.76% 220.3 Delayed Quote.-8.31%
NELES OYJ 1.25% 10.95 Delayed Quote.4.75%
VALMET OYJ 1.41% 21.52 Delayed Quote.-0.70%
All news about NELES OYJ
11/13NELES CORPORATION : - Notification according to chapter 9, section 5 and 6 of th..
AQ
11/09NELES CORPORATION : Managers' transactions - Jukka Tiitinen
AQ
11/04NELES CORPORATION : - Final result of Alfa Laval's recommended public tender off..
AQ
11/04Alfa Laval Withdraws Bid for Neles After Failing to Get Enough Support
DJ
11/04ALFA LAVAL : Final result of Alfa Laval's recommended public tender offer for al..
AQ
11/03ALFA LAVAL : Preliminary result of Alfa Laval's recommended public tender offer ..
AQ
11/02Alfa Laval Says Preliminary Data Show It Has Failed With Bid For Neles
DJ
11/02ALFA LAVAL : Preliminary result of Alfa Laval's recommended public tender offer ..
AQ
10/29NELES OYJ : Resolutions of Neles Corporation's Extraordinary General Meeting
AQ
10/28ALFA LAVAL : has received all necessary regulatory approvals for the recommended..
AQ
More news
Financials
Sales 2020 573 M 685 M 685 M
Net income 2020 52,6 M 63,0 M 63,0 M
Net Debt 2020 82,9 M 99,2 M 99,2 M
P/E ratio 2020 31,4x
Yield 2020 1,53%
Capitalization 1 642 M 1 963 M 1 965 M
EV / Sales 2020 3,01x
EV / Sales 2021 2,73x
Nbr of Employees 2 840
Free-Float 63,7%
Chart NELES OYJ
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Technical analysis trends NELES OYJ
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 14,89 €
Last Close Price 10,93 €
Spread / Highest target 217%
Spread / Average Target 36,2%
Spread / Lowest Target -5,76%
EPS Revisions
Managers
NameTitle
Percy Henrik Mikael Lilius Chairman
Jukka Matias Moisio Chairman
Vesa Erolainen Chief Information Officer
Christer Göran Harald Gardell Vice Chairman
Lars Olof Josefsson Independent Director
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