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Vesuvius said on Tuesday it is assessing a £1.37 billion ($1.81 billion) cash-and-stock bid from RHI Magnesita N.V, valuing the company at 551 pence per share. The proposal is a 47% premium to Vesuvius’ Monday closing price, and Vesuvius said the latest bid received support from Cevian Capital, its largest shareholder.
British engineering firm Vesuvius LSE:VSVS said on Tuesday it was assessing a £1.37 billion ($1.81 billion) cash-and-stock bid from Austria-based RHI Magnesita N.V LSE:RHIM, sending shares up 31%.The bid comes after Vesuvius rejected a series of proposals from RHI Magnesita over the past year. The…