Britain’s blue chip aero and marine engine maker Rolls-Royce and the Finnish marine and energy power plant company Wartsila each issued statements today (Thursday) confirming they had been in talks on a takeover deal, but that the discussions were now over, at least for the time being.
Wartsila and Rolls-Royce both noted recent press speculation that said the British company had approached Wartsila to buy its marine engine business and speculating that the Finnish company might not have welcomed the approach.
The Helsinki-listed firm 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.”
In similar vein, Rolls announced: “Rolls-Royce notes the recent press speculation and confirms that it has been in preliminary discussions with the Board of Wärtsilä regarding a possible offer for the company. However, those discussions are no longer continuing.”
Wärtsilä is a €4.7 billion (£3.9bn) turnover company with around 19,000 employees in 70 countries.
Copyright Ken Hurst 2014