Metso Dismisses Media Report of Mining Merger With Sandvik (2)

Finland’s Metso Oyjdismissed a media report claiming that large shareholders in the company were pushing for a merger of its mining equipment operations with those of Swedish group Sandvik AB.

“Metso has no information related to the speculations and no related insider project exists,” the company said in a statement after Swedish business daily Dagens Industri reported on the possible tie up without saying where it got the information.

Sandvik shares initially rose 3.5% in Stockholm while Metso advanced as much as 6.8% in Helsinki. Both paired their gains since.

Finland’s state-owned company Solidium Oy and Stockholm-based Cevian ...