GF announces a voluntary recommended public cash tender offer for all shares in Uponor at EUR 28.85 per share.
The acquisition of Uponor would accelerate GF Piping Systems’ strategy towards leadership in water and flow solutions. It would also be consistent with GF’s strategic priorities to drive profitable growth and further increase the resilience of the GF group. The complementary nature of both companies’ products and geographical footprints, their similar culture and common ESG commitments are expected to allow a seamless integration of Uponor as a fourth division within GF.
GF Piping Systems and Uponor, two sustainability forerunners in their industries, are expected to create a global leader in water and flow solutions with combined sales of EUR 3.6 billion (CHF 3.5 billion) in this business, whereas the entire GF group together with Uponor would have combined sales of EUR 5.4 billion (CHF 5.4 billion) in each case for the year ended December 31, 2022.