Weir looks to buy Ludowici for £200m

Weir has proposed to buy Australia-listed mining equipment manufacturer Ludowici for A$294m (£200m), stepping on the shoes of Danish peer FLSmidth which made an indicative proposal for the firm last month.

Weir has proposed to buy Australia-listed mining equipment manufacturer Ludowici for A$294m (£200m), stepping on the shoes of Danish peer FLSmidth which made an indicative proposal for the firm last month.

The FTSE 100 engineering solutions provider says it would pay A$7.92 per Ludowici share, representing a 10% premium to FLSmidth's indicative proposal of A$7.20 a share, announced on January 23rd.

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