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Rolls Rises; Tognum Accretive, Waertsilae Bid Unlikely: Investec 2014-03-10 09:24:38.379 GMT
By Brian Lysaght March 10 (Bloomberg) -- Rolls-Royce rises as much as 3.7%, on vol. 47% of 3-mo daily avg. Daimler said March 7 aftermkt it plans to sell Tognum JV stake valued at GBP1.9b to Rolls-Royce. * Investec (buy on Rolls) says stake will be est. 7% accretive to Rolls-Royce 2015 EPS * Notes Rolls has ample liquidity to buy stake; deal makes Rolls equity raising to fund purchase of another industrial such as Waertsilae “more unlikely:” Investec * Waertsilae falls as much as 5.4%, currently down 1.6%; mkt cap EU7.95b * Rolls-Royce said Jan. 9 Waertsilae takeover talks ended
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To contact the reporter on this story: Brian Lysaght in London at +44-20-7330-7908 or blysaght@bloomberg.net To contact the editors responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net Gaurav Panchal