Austria’s Palfinger Group (Palfinger Marine Gmbh) on Sunday said it intends to buy Norway’s TTS Group ASA for 5.60 Norwegian crowns ($0.67) per share, in a move that would put its marine business among the top three global ship equipment suppliers.
“Subject to a positive outcome of the due diligence audit, the offer would be made in agreement with the board of directors of TTS, and TTS would recommend its shareholders to accept the offer,” Palfinger said in a statement.
