Swedish Ball-Bearing Firm Subject of Takeover Talk
STOCKHOLM — A Swedish industrial group said it acquired 10.1% of the voting shares in AB SKF, the world’s leading maker of ball-bearings, prompting market speculation that a takeover bid might be in the offing.
The industrial conglomerate, Trelleborg AB, said the stake was for investment purposes only and did not herald a full bid, but some stock analysts said they still thought a takeover bid may eventually emerge.
SKF had no comment on the Trelleborg announcement. An old, established Swedish firm, SKF has come up against tough competition from Japanese producers in a market suffering from overcapacity. It recently reported flat profits for 1987 of 254 million crowns ($42.3 million).
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