Melrose talks on Elster bid
Tuesday 19 June 2012
The acquisitive engineering group Melrose yesterday confirmed it is in talks to buy the German-based water, gas and electricity meters maker Elster for $2.3bn (£1.5bn).
Melrose is offering $20.50 a share for Elster, which is a 25 per cent premium to Friday's closing price on the New York Stock Exchange.
The UK private-equity firm CVC, which holds 62 per cent of Elster, is reported to be looking for an offer of $22 a share.
Melrose said the bid will only go ahead if it gets the backing of Elster's board and undertakings from CVC.
-
Gay couple beaten in park urge MPs to moderate language on gay marriage
-
Strewth mate. Aussies wave goodbye to Britain as it becomes too pricey to stay
-
World news in pictures
-
Far-right French historian, 78-year-old Dominique Venner, commits suicide in Notre Dame in protest against gay marriage
-
Oklahoma tornado latest: Obama pledges support for 'as long as it takes' to rebuild the suburb of Moore
- 1 'He was lucky he didn't die' - George Michael fell out of speeding car onto M1 motorway, according to eye witness
- 2 Gay couple beaten in park urge MPs to moderate language on gay marriage
- 3 After woman sells virginity for $780,000, here are the results of our prostitution survey
- 4 Far-right French historian, 78-year-old Dominique Venner, commits suicide in Notre Dame in protest against gay marriage
- 5 'It was just like the movie Twister': Man survives Oklahoma tornado by taking refuge in horse stall
Get your summer started with British Military Fitness
BMF is the UK’s biggest and best loved outdoor fitness classes
Visit York
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Enter the latest Independent competitions
Win anything from gadgets to five-star holidays on our competitions and offers page.
Business videos from commercial thought leaders
Watch the best in the business world give their insights into the world of business.
iJobs Money & Business
Programme Change Manager
£850 - £1000 per day: Orgtel: Programme Change Manager - Banking - London - £8...
Operations Analyst
£180 - £230 per day: Orgtel: Operations Analyst - Leading Bank in the City of ...
Finance Business Analyst - Banking - £500pd
£500 per day: Orgtel: A top tier banking client urgently requires Finance Busi...
Senior Finance Project Manager
£425 - £550 per day: Orgtel: Senior Finance Project Manager - £550 - Bristol -...
Day In a Page
How to say ‘I’m a sellout’
Why clubs are keen to take a stand



Comments