April 1, 2014 / 9:22 AM / 3 years ago

Metso confirms Weir Group's merger approach

HELSINKI (Reuters) - Finnish engineering group Metso MEO1V.HE confirmed on Tuesday that Scottish Weir Group (WEIR.L) has proposed discussions over a potential merger between the companies, adding that Metso was considering the proposal.

A newspaper report earlier on Tuesday suggested that Weir was in talks to take over Metso for more than 4 billion euros (3.3 billion pounds) as it looks to expand its industrial pumps and valves market.

Metso said such talks have not started, but that it is considering the proposal.

“Metso occasionally receives these types of proposals and, in case the board ... considers them serious, evaluates such proposals,” the company said in a statement.

Reporting By Jussi Rosendahl, editing by Sakari Suoninen

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