Melrose Plc (MRO) has been talking to Elster Group for three weeks about making a possible bid of more than $2 billion, the Sunday Telegraph reported, citing unidentified people familiar with the matter.
It’s unknown if talks are continuing, the newspaper said. Melrose is willing to offer as much as $20.50 a share while Elster wants an offer of $22, according to the report.
Ann-Marie Wilkinson, a spokeswoman for Melrose, declined to comment when contacted by Bloomberg News today.
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