India's Mahindra says to bid for Kone tractor unit

Newswire

BOMBAY, Aug 21 (Reuters) - India's largest maker of tractors and utility vehicles, Mahindra & Mahindra , has decided to bid for tractor maker Valtra, which Finnish engineer Kone plans to divest, it told the Bombay Stock Exchange on Thursday. Mahindra's board approved the proposal to submit an offer to acquire Valtra's Finnish and Brazilian operations -- Valtra Oy Ab and Valtra do Brasil Ltd respectively, it said. Some analysts have estimated the tractor company to be worth $390 to ...

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