Alfa Laval raises its bid for Munters

Alfa Laval, the Swedish engineering group, has raised its offer for Munters, a Swedish manufacturer of pumps and heat-transfer products, in an attempt to trump a private equity offer for the company by Cidron, which is backed by private equity fund Nordic Capital VII Limited. The new bid is worth 5.55 billion Swedish crowns ($821.7 million) – more than Cidron’s previous offer of 5.4 billion crowns ($787 million). Alfa Laval said that the Munters board has decided to recommend that shareholders accept the offer.

North AmericaUSBriefs