Thursday, 10 April 2014

Betaville gets back on Tip TV...and talks about Metso

Good news - Tip TV asked me back onto the show today to talk about M&A.

Here is a link to today's Tip TV clip: http://www.tiptv.co.uk/archives/tip-tv-highlight-ben-harrington-10-04-2014/

For anybody who's been following today's ridiculous antics with Weir Group, I actually talk a bit about the Weir Group/Metso situation on the show with its presenter Moose.

As well as highlighting Weir Group may be "prepared" - but just to be clear, it hasn't yet - to offer some cash for Metso, I also talk a bit about what price the FTSE 100-listed company originally pitched its merger proposal at to the Finnish company.

One my sources said Weir Group has indicated to Metso it was willing to pay around Euro 32 a share while another good source told me the industrial company originally went in at Euro 28 a share.

Metso, though, is said to be holding out for at least Euro 35 a share, according to the first source.

I asked a Weir Group spokesperson to comment and I am waiting to hear back from him.

UPDATE: Weir Group never called me back in the end so I called the company spokesperson and asked him whether he had any comment regarding the rumoured offer prices for Metso. The spokesperson said Weir Group was not "not commenting" (if that makes any sense) and had nothing to say to me. Charming.    

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