Georg Fischer, an industrial group, completed the acquisition of Uponor, a company that sells products for drinking water delivery, radiant heating and cooling, for €2.2bn. "By combining more than 100 years of expertise of Uponor with our know-how of over two centuries, we would have a great opportunity to build a global leader in the water and flow solutions industry. The two companies have complementary products and geographical footprints, similar cultures and a common ESG commitment. We respect very much the heritage of Uponor and look forward to a prosperous joint future of GF and Uponor," Yves Serra, GF Chair of the Board of Directors. Georg Fischer's offer was recommended over the €1.9bn offer by Aliaxis, which was later withdrawn. On October 20, 2023, European Commission has granted an unconditional merger clearance regarding the tender offer.