APW finally clinches Vero acquisition

APW finally clinches Vero acquisition
Melanie Reynolds The takeover battle for Vero Group has resulted in a third increased offer from one of the two US firms bidding for the UK enclosure manufacturer. Applied Power (APW) has increased its original offer to ?115.5m following a rival bid of ?102.2m from industrial manufacturer Pentair. Pentair has decided not to pursue the acquisition following the second offer by APW. “Any further increase in price is not justified by our analysis of Vero’s business fundamentals,” said Winslow Buxton, Pentair chairman.


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