Metso's Shareholders' Nomination Board will propose to the next Annual General Meeting, to be held on April 25, 2019, that the Board of Directors should have eight members and that Mikael Lilius, Christer Gardell, Peter Carlsson, Lars Josefsson, Nina Kopola, Antti Makinen and Arja Talma should be re-elected. Mr. Kari Stadigh will be proposed as a new Board member. Ozey K. Horton, Jr. is not available for re-election after having served as Metso's Board member since 2011. Mikael Lilius will be proposed to continue as Chair and Christer Gardell as Vice Chair of the Board.
Metso has agreed to acquire HighService Service, the service business of the Chilean mining technology and maintenance provider HighService Corp. The acquisition is pending regulatory approval from the Chilean authorities and is expected to close during the first half of 2019. The parties have agreed not to disclose the value of the transaction.
Metso upgraded to Overweight from Underweight at JPMorgan. JPMorgan analyst Andrew Wilson double upgraded Metso to Overweight from Underweight and raised his price target for the shares to EUR 34.50 from EUR 28.