The Board of Wartsila Confirms No Ongoing Discussions with Rolls-Royce

Wartsila Corporation commented on the recent speculation regarding potential transaction between Rolls-Royce Plc and Wärtsilä by saying that there are no longer ongoing discussions with Rolls-Royce.

According to the speculation, Rolls-Royce is in talks to buy the marine propulsion unit of Finland’s Wartsila, Bloomberg reported, citing three people familiar with the subject.

The sources also said that Rolls-Royce had contacted Helsinki-based Wärtsilä about its interest in the division. Nevertheless, they added that Wartsila may oppose the sale.

The Wärtsilä Board of Directors said: “Wärtsilä Corporation notes the recent speculation about a potential transaction between Rolls-Royce Plc and Wärtsilä.

We confirm the approach by Rolls-Royce with a preliminary proposal for a possible offer for the company. In case the company receives such proposals, the Wärtsilä Board has an obligation to evaluate such proposals.

However, we confirm that there are no longer ongoing discussions with Rolls-Royce.”

Wartsila, January 9, 2014

 

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