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Motherson Sumi makes a Rs 4,100 crore bid for Finland’s PKC Group

Homegrown component major Motherson Sumi (MSSL) has made a 571 million (over Rs 4,150 crore) acquisition offer for Finland's PKC Group Plc (PKC), a maker of wiring harness. 
●    If closed, the deal will be one of the biggest cross-border acquisition in the auto components space.
●    MSSL's board on Thursday approved a proposal to launch a voluntary, recommended public tender offer for the acquisition of the outstanding share capital and voting rights of PKC Group Plc, Finland.
●    The shares of PKC are currently listed on the Nasdaq Helsinki stock exchange.
●    MSSL and PKC entered into a combination agreement for the proposed transaction, the statement further said.
●    The acquisition, which will be made through a 100% subsidiary of MSSL to be set up for the purpose, is expected to be completed by the end of March this year.

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