WASHINGTON (dpa-AFX) - Bureau Veritas SA (BVI.PA), a French company that provides inspection, testing, and certification services, Monday announced that there are no further discussions on the agreement to a potential business combination with SGS SA (SGSOY).
The talks ended without an agreement, despite belief in the benefits of consolidation in the Testing, Inspection, and Certification sector.
The companies had initially engaged in discussions on January 15.
Bureau Veritas is dedicated to its LEAP 28 strategy, aiming for significant growth and improved performance.
In a statement Bureau Veritas said the goals are high single-digit total revenue growth with mid-to-high single-digit organic growth, steady improvement in adjusted operating margins, double-digit shareholder returns driven by EPS growth and dividend yield, and robust cash conversion exceeding 90 percent.
On Friday, Bureau Veritas had closed 1.26% lesser at $29.84. SGS SA had closed its trading on Friday with 0.11% lesser at $9.32.
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