On 1 April Metso had confirmed receipt of a proposal from the Scottish group Weir over a possible all-share deal to take over the Finnish company. Metso’s biggest shareholder, the Finnish government’s investment company Solidium, had already said that Metso had a positive future as an independent company.
Now Metso’s board has reached the same conclusion.
“The Metso Board remains extremely positive and confident in Metso's standalone growth and value creation prospects by pursuing its current strategy,” said the company in a press release.
“As a consequence, the Board has rejected Weir's proposal and sees no reason to commence discussions regarding a potential combination.”