Melrose Plc (MRO.L) confirmed that it is in discussions with the Board of Elster Group SE (ELT) relating to a recommended cash offer for the entire issued share capital of Elster at $20.50 per American Depositary Share, or about $2.3 billion in aggregate on a fully diluted basis. Elster agreed to due diligence which is now on-going, and Melrose has said that it would not proceed with the transaction without a recommendation from Elster's board and a hard irrevocable undertaking from Elster's largest shareholder, Rembrandt Holdings S.A., which is owned by funds advised by CVC Capital Partners.
The company said any transaction would be funded via. a combination of new debt and a fully underwritten rights issue to existing Melrose shareholders. Melrose's board would only proceed with the transaction, if it meets Melrose's acquisition criteria, including the terms on which financing for the transaction can be raised.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.