Ludowici not worth the hassle as Weir withdraws offer

Engineering group Weir has officially lost the bidding war for Australian mining equipment Ludowici after withdrawing its offer on Tuesday morning.

Engineering group Weir has officially lost the bidding war for Australian mining equipment Ludowici after withdrawing its offer on Tuesday morning.

Weir had been in a battle with Danish rival FLSmidth since January but had repeatedly been outbid. FLS's latest offer at A$11 per share, up from the initial A$7.92-a-share offer made on January 23rd, compares with Weir's A$10-a-share offer which it refused to increase.

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