Wärtsilä Corporation has commented on speculation about a takeover bid by Rolls-Royce to buy the marine propulsion unit of Wärtsilä.
In its statement the Finnish Corporation said: "We confirm the approach by Rolls-Royce with a preliminary proposal for a possible offer for the company. In case the company receives such proposals, the Wärtsilä Board has an obligation to evaluate such proposals. However, we confirm that there are no longer ongoing discussions with Rolls-Royce".
Rolls-Royce said in a press release:
"Rolls-Royce notes the recent press speculation and confirms that it has been in preliminary discussions with the Board of Wärtsilä regarding a possible offer for the company. However, those discussions are no longer continuing".
Wärtsilä is a global leader in complete lifecycle power solutions for the marine and energy markets. By emphasising technological innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2012, Wärtsilä's net sales totalled EUR 4.7 billion with approximately 18,900 employees. The company has operations in nearly 170 locations in 70 countries around the world. Wärtsilä is listed on the NASDAQ OMX Helsinki, Finland.
Rolls-Royce is a global company, providing integrated power solutions for customers in civil and defence aerospace, marine and energy markets. We support our customers through a worldwide network of offices, manufacturing and service facilities.
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