Helsinki, Finland, 24 November 2009 -- Metso Corporation’s exchange offer for Tamfelt Corp.’s shares and stock options commenced on 23 November 2009, at 9:00 a.m. (Finnish time). By now, shareholders, whose aggregated ownership in Tamfelt Corp. is 51.66%, have undertaken to accept Metso’s exchange offer.
Metso announced in the share exchange offer document and listing particular published on 20 November 2009, that certain shareholders of Tamfelt (Ilmarinen Mutual Pension Insurance Company, Varma Mutual Pension Insurance Company, Tapiola Mutual Pension Insurance Company, Mandatum Life Insurance Company Limited, Kaleva Mutual Insurance Company, and certain institutional and private shareholders), whose aggregated ownership in Tamfelt is 45.32% of shares (including the 2.82% ownership of Tamfelt held by Metso), had irrevocably and unconditionally undertaken to accept the share exchange offer. After this, Metso has received corresponding undertakings from certain other owners, whose aggregated ownership in Tamfelt is 6.34%. Accordingly, shareholders in Tamfelt (including Metso), whose aggregated ownership in Tamfelt is 51.66%, have irrevocably and unconditionally undertaken to accept Metso’s share exchange offer.
The offer period for the share exchange offer preliminarily expires on 18 December 2009, at 4:00 p.m (Finnish time).
) is a global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling, and the pulp and paper industries. The company has about 26,500 employees in more than 50 countries.