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Talgo wants more information from Skoda to find out whether an offer is worth more than the 619 million euros in cash offered by the Hungarian consortium Ganz-Mavag in March.
Spanish train manufacturer Talgo has received a merger offer from its Czech rival Skoda. In a statement, Talgo said that the Skoda offer It is “a business merger and industrial integration, lacking a financial offer” and that is awaiting further clarity. Several sources claim that the Czech company has proposed a partial integration between the two.
Talgo has asked Skoda for more details to see if the agreement is more attractivefor shareholders than a previous offer submitted by Gang-Mavag Europe Zrt. The Hungarian consortium Gang-Mavag launched a Public offering of 619 million euros in cash for all Talgo shares at five euros per share.
When that offer was made, Talgo’s board of directors issued a statement saying: “The Board of Directors of Talgo has confirmed unanimously that the offer is friendly and that the consideration offered is attractive for Talgo shareholders.”
With this latest offer, the Spanish manufacturer of trains wants more clarity “about the industrial capacities and Skoda’s financial institutions.” According to Reuters, the Spanish government says that Talgo is a strategic asset and will therefore carefully study the operation.
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