Weir and Metso in discussions on merger

1st Apr 2014 07:44

Engineering group Weir could be on the verge of a blockbuster 8.5bn pound merger with Finnish rival Metso. Like its Scottish rival the Nordic firm manufactures industrial pumps and valves for the global oil and gas mining markets. It is thought that Weir could be prepared to pay as much as €30 per share for the company, giving it a market value of over €4bn (£3.3bn). Market sources say Metso is the kind of firm which Weir would regularly be keeping an eye on as a matter of course anyhow, but that they have been talking a merger for some time, The Times reports. Shares of Weir are being called to start the session lower by 5%.-- More top follow --AB