STOCKHOLM Aug 17 Swedish engineering group
Atlas Copco is in advanced talks with Edwards Group
to take over the British industrial technology firm Sky
News reported on Saturday.
The British television news service said on its website
Atlas Copco planned to offer around $9.20 per share for Edwards,
citing banking sources in the United States.
The offer would value the company at around $1 billion which
would represent a premium of around 10 percent on Edwards'
closing price on Friday of $8.35. Sky said the offer was worth
around a billion pounds.
Edwards, which was listed on Nasdaq last year at $8 per
share, has a market value of around $942 million while Atlas
Copco's totals around $32 billion, according to Starmine data.
Investment bankers at Barclays and Lazard, who are advising
Edwards, had recommended Edwards' board to approve such a bid
and a deal could be announced as early as next week, it said.
Atlas Copco declined to comment. Edwards group was not
immediately available for comment.