Spanish train maker Talgo receives merger offer from Czech rival Skoda

MADRID (Reuters) – Spanish train maker Talgo said on Tuesday it received a merger offer from Czech rival Skoda four months after Hungarian consortium Ganz-Mavag launched a public tender offer for all Talgo shares.

Skoda, which is unrelated to the car maker owned by Germany’s Volkswagen (ETR:), made an offer of “business combination and industrial merger” without any economic offer, Talgo said in a statement.

Talgo said it had asked Skoda for detailed information to be able to evaluate whether it surpasses the 619 million euros ($674 million) in cash offered by Ganz-Mavag on March 7.

The Spanish government has said it would look carefully at the deal as it considers Talgo a strategic asset.

($1 = 0.9186 euros)