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Sandvik Bid for Outstanding Shares in Walter AG

Sep 11 2002

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In the (northern hemisphere) Autumn of 2001, Sandvik reached an agreement with the owners of Walter-AG to acquire the majority of shares in the company. Sandvik have now made a public offer to acquire all outstanding shares in the company.

Sandvik currently own an 81% stake in Walter AG, who make a range of cutting tools, blades and associated products, including software.

The deal which could cost Sandvik as much as 23.9 million Euros, is conditional on them acquiring more than 95% of Walter AG.

For more information on cutting tools, click here.

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