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Spanish train maker Talgo announced on Tuesday that it has received a merger offer from Czech rival Skoda. This comes four months after a Hungarian consortium, Ganz-Mavag, launched a public tender offer for all Talgo shares.
Talgo said in a statement that Skoda, which is not related to the carmaker owned by Germany’s Volkswagen, proposed a “business combination and industrial merger” without including any economic terms in the offer.
Talgo stated that it has requested detailed information from Skoda to evaluate whether its proposal is superior to Ganz-Mavag’s 619 million euros ($674 million) cash offer on March 7.
The Spanish government intends to scrutinize the deal, considering Talgo a strategic asset.
Given Talgo’s status as a strategic asset, the Spanish government will monitor any potential merger or acquisition closely.
This scrutiny ensures that any ownership or strategic direction changes align with national interests.
The offer from Skoda comes at a time when the rail industry is experiencing increased consolidation and competition.
Talgo’s strategic importance and technological capabilities make it an attractive target for acquisition, highlighting the ongoing interest from international competitors.
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