0754 GMT - A potential merger of equals between Switzerland's SGS and France's Bureau Veritas could make sense on paper, RBC Capital Markets' Karl Green and Andrew Brooke say in a research note. "Though likely to be positioned as an offensive move, we suspect there are defensive aspects to the proposal too, as we expect market conditions to get tougher over the next 12-18 months," the analysts say. The global testing, inspection and certification market is very fragmented, with the top players in the industry holding a quarter of the market and SGS and Bureau Veritas each holding market shares around mid single digits, according to RBC. This means there is scope for consolidation, the analysts say. News of the talks could lift stocks in the industry as a whole, the analysts add. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
January 15, 2025 02:54 ET (07:54 GMT)
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