Austria: RHI Magnesita has confirmed that it is in advanced discussions with the board of UK-based refractory manufacturer Vesuvius regarding a possible offer for the entire share in Vesuvius. On 29 September 2025, RHI approached Vesuvius with its first non-binding proposal regarding an offer of £4.48/share (€5.24/share), which was rejected. Since then, RHI has made a series of revised proposals, which have all been rejected.
A revised proposal was made on 27 August 2026, which is currently being considered by the board. Under the terms of the latest proposal, Vesuvius shareholders would receive £4.70/share (€5.49/share) and approximately 0.028 new RHI shares for every Vesuvius share. Based on the RHI share price as of 28 September 2026, the latest proposal values each Vesuvius share at £5.49/share (€6.42/share). Vesuvius shareholders would receive approximately 7.1 million new RHI shares and hold approximately 13% of the share capital of RHI following completion of the transaction. Discussions remain ongoing between the boards of RHI and Vesuvius, but there can be no certainty that a firm offer will ultimately be made.
