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Sat, Sep 19, 2020 01:21
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Valmet raises stake in valve maker Neles

Valmet has increased its stake in Neles to 17.06% from 15.5%, the Neles shareholder registry showed on Tuesday, strengthening its hand in opposing Alfa Laval's bid for the valve maker.

Sweden's Alfa Laval last month announced a recommended 1.73 billion euro (1.5 billion pounds) cash bid for Neles, seeking to boost its presence in the industrial flow-control market.

Valmet criticized the offer and said it was not in the interest of Neles or its shareholders.


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