August 17, 2013 / 7:01 PM / 4 years ago

Atlas Copco in talks to take over Edwards Group - report

STOCKHOLM, Aug 17 (Reuters) - Swedish engineering group Atlas Copco is in advanced talks with Edwards Group to take over the British industrial technology firm for close to a billion pounds ($1.6 billion), 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, a premium to the $8 at which it listed on Nasdaq last year, citing banking sources in the United States.

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.

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