HELSINKI, Finland, April 16, 2014 (GLOBE NEWSWIRE) -- Metso announced in a stock exchange release dated April 1, 2014 that it had been approached by The Weir Group ("Weir") with a proposal for commencing discussions regarding a potential combination of the two companies.
The Board of Directors of Metso has carefully evaluated the proposal received from Weir and has come to the unanimous conclusion that this proposal is not in the best interest of Metso shareholders. The Metso Board remains extremely positive and confident in Metso's standalone growth and value creation prospects by pursuing its current strategy. As a consequence, the Board has rejected Weir's proposal and sees no reason to commence discussions regarding a potential combination.
Metso is a leading process performance provider, with customers in the mining, construction, and oil & gas industries. Our focus is on the continuous development of intelligent solutions that improve sustainability and profitability. Metso's shares are listed on the NASDAQ OMX Helsinki Ltd. Metso employs around 16,000 professionals in 50 countries. Expect results.
Mikael Lilius, Chairman of the Board, Metso Corporation, tel +358 20 484 3001