LONDON (Reuters) - British engineering company Weir Group said it submitted a revised acquisition proposal for Finnish rival Metso on May 20, but the approach had been rejected a week later.
Making public the revised approach, which was 13 percent higher than its first offer, Weir said on Wednesday it did not intend to pursue the opportunity any further at this time.
The rejection came a month after an earlier $5 billion (4 billion pounds) bid for the Finnish company was also rejected.
(Reporting by Sarah Young; Editing by Karolin Schaps)