COPENHAGEN: Danish engineering group FLSmidth said on Monday it had offered to pay A$7.20 per share to acquire Australian listed company Ludowici in a deal with an enterprise value of A$267 million.
FLSmidth said that Ludowici's board had agreed to recommend the offer to its shareholders on condition that there was no superior offer and that an independent expert found that the deal was in shareholders' best interest.
Ludowici is the world's leading provider of coal centrifuges, vibrating screens and complementary wear resistant products and services for the minerals industries, FLSmidth said in a statement.
FLSmidth said that the offer price represented a premium of 106 percent over Ludowici's current share price before the offer was announced.
"It is expected that the proposed acquisition would lead to a number of sales and cost synergies," the Danish company said. "FLSmidth will evaluate potential synergies after completion of the acquisition."
Comments
Comments are closed for this article.