Atlas Copco in talks to buy Edwards Group for $1.6B

|About: Atlas Copco AB ADR (ATLKY)|By:, SA News Editor

Atlas Copco (ATLKY.PK) is in advanced negotiations to acquire Edwards Group (EVAC), a U.K. provider of vacuum pumps, for almost $1.6B.

The Swedish engineering group plans to offer $9.20 a share, or an 8.9% premium to Edwards' closing price of $8.45 on Friday.

Edwards' banking advisers Barclays and Lazard have recommended to the company's board to accept the deal, which could be announced this week.