April 1, 2014 / 10:02 AM / 3 years ago

Weir offers all-share merger with 60-40 split, small premium- source

LONDON, April 1 (Reuters) - The Weir Group has proposed to Metso an all-share merger with a 60-40 split and 5-10 percent premium, a source familiar with the matter told Reuters.

Weir Group has hired Bank of America Merrill Lynch and UBS to advise on a proposed merger with Finland’s Metso , which is working with Morgan Stanley on the deal, said the source who asked not to be named because the talks are private.

Weir Group and Metso on Tuesday confirmed in separate statements the approach by Weir but added there could not be any certainty that the merger proposal would lead to an agreement. (Reporting by Sophie Sassard; Editing by Anjuli Davies)

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