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Spanish train manufacturer Talgo announced on Tuesday that it has received a merger proposal from Czech rival Skoda, following a public tender offer for all Talgo shares made by Hungarian consortium Ganz-Mavag four months ago.
Skoda’s proposal entails a “business combination and industrial merger,” although it does not include a financial offer, Talgo stated in a release. The company has requested further details from Skoda to assess whether this new proposal exceeds the €619 million ($674 million) cash offer made by Ganz-Mavag on March 7.
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The Spanish government has indicated that it will carefully evaluate any potential deal, considering Talgo to be a strategic asset.
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