Eramet : Offer on ETI: why not? But the proposed price is far too low
>New offer three years after a previous attempted disposal at a higher price - Eramet announced yesterday after market close that it had received an unsolicited offer for $ 245m from a potential buyer (unnamed) to acquire ETI, its titanium slag unit in Norway. The group said it was looking at the offer which it deemed “unilateral” and stated that it would “keep the market informed of the answer to such offer in due time”. ETI belongs to the Mineral Sands business unit...Eramet is a mining and metallurgical group, which specializes in the extraction, production and marketing of non-ferrous metals, their chemical derivatives, alloys and superalloys, and parts. Co.'s operations are divided into three divisions: Nickel division which focuses on nickel and its derivative applications; Manganese division which focuses on manganese alloys, manganese chemical derivatives and provides recovery and recycling services of metals contained in oil-industry catalysts, electric batteries and acid solutions; and Alloys division which produces and sells special high-performance steels, superalloys and pre-machined parts based on these materials or aluminium and titanium.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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