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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Valmet Oyj    VALMT   FI4000074984

VALMET OYJ

(VALMT)
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Valmet Still Seeking Neles Merger

10/12/2020 | 05:21am EST

By Dominic Chopping

Finland's Valmet Corp. has said it is still hoping to merge with Neles Oyj despite having its approach knocked back.

At the end of September, Valmet approached Neles over a potential merger and said Monday that it has clarified its view on the strategic rationale, potential structure and synergy potential and emphasized its willingness to engage in talks to clarify a more specific proposal, including a share exchange ratio.

"Unfortunately, Valmet was not invited to discuss these topics in more detail," it said in a statement.

Valmet and Sweden's Alfa Laval AB have been vying for control of Neles over the last couple of months, with Alfa Laval tabling a 1.73-billion-euro ($2.05 billion) cash offer for Neles in July that was recommended by the Neles board, while Valmet has gradually increased its ownership in Neles to 29.5%.

In a separate statement Monday, Neles said it continues to recommend Alfa Laval's bid, saying it has failed to get details of the counter proposal from Valmet.

"The negative response from the board of directors of Neles effectively deprives its shareholders of the possibility to evaluate an alternative to Alfa Laval's offer," Valmet said.

"Valmet sustains its goal to merge Valmet and Neles."

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

(END) Dow Jones Newswires

10-12-20 0520ET

Stocks mentioned in the article
ChangeLast1st jan.
ALFA LAVAL AB 1.71% 220.3 Delayed Quote.-8.31%
NELES OYJ 0.00% 10.88 Delayed Quote.4.75%
VALMET OYJ 1.56% 21.55 Delayed Quote.-0.70%
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Financials
Sales 2020 3 618 M 4 325 M 4 325 M
Net income 2020 212 M 253 M 253 M
Net Debt 2020 308 M 368 M 368 M
P/E ratio 2020 15,0x
Yield 2020 3,81%
Capitalization 3 171 M 3 790 M 3 791 M
EV / Sales 2020 0,96x
EV / Sales 2021 0,88x
Nbr of Employees 13 434
Free-Float 86,9%
Chart VALMET OYJ
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Valmet Oyj Technical Analysis Chart | MarketScreener
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Technical analysis trends VALMET OYJ
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 23,81 €
Last Close Price 21,21 €
Spread / Highest target 30,6%
Spread / Average Target 12,3%
Spread / Lowest Target -0,99%
EPS Revisions
Managers
NameTitle
Pasi Laine President & Chief Executive Officer
Mikael Mäkinen Chairman
Kari Saarinen Chief Financial Officer
Rogério Ziviani Independent Director
Aaro Sakari Cantell Vice Chairman
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