ERIKS group nv has made an offer for valve manufacturer Royal Econosto N.V. for €7.80 in cash per share, or €126 million (about US$200 million with current exchange rates). The bid counters an offer from buyout firm Gilde Buy Out Partners BV of €7.25 a share.
According to a Bloomberg report, Gilde has five days to make a counteroffer.
Econosto has two divisions: flow and sealing technology (the production, sale and distribution of valves, gaskets, sealing products, hoses, couplings, instrumentation systems, chemical seals, etc.); and Comfort and Environmental Technology (production and sale of domestic and industrial HVAC and energy systems and services.)
ERIKS supports Econosto’s international growth strategy and the proposed …
ERIKS Makes Counteroffer for Econosto
ERIKS group nv has made an offer for valve manufacturer Royal Econosto N.V. for €7.80 in cash per share, or €126 million (about US$200 million with current exchange rates). The bid counters an offer from buyout firm Gilde Buy Out Partners BV of €7.25 a share.
According to a Bloomberg report, Gilde has five days to make a counteroffer.
Econosto has two divisions: flow and sealing technology (the production, sale and distribution of valves, gaskets, sealing products, hoses, couplings, instrumentation systems, chemical seals, etc.); and Comfort and Environmental Technology (production and sale of domestic and industrial HVAC and energy systems and services.)
ERIKS supports Econosto’s international growth strategy and the proposed …
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