Maersk Owners Offer $840 Million for Sweden’s Concentric (1)

The family controlling A.P. Moller-Maersk A/S agreed to buy a Swedish maker of engine products for about 8.59 billion kronor ($840 million), spending some of the windfall profits it made during the container rate boom.

A.P. Moller Holding A/S is offering 230 Swedish kronor per Concentric AB share, in a bid recommended by the takeover target’s board, according to a statement on Thursday. The offer represents a 62% premium to Wednesday’s closing price.

Concentric shares rose as much as 59% to 227 kronor as of 9:14 a.m. in Stockholm.

A.P. Moller owns about 42% of the shares in transport ...