HELSINKI (Reuters) - India-based car parts maker and engineering group Motherson Sumi Systems Ltd has made a 571 million-euro ($609 million)offer to buy Finland's PKC Group, a maker of wiring harnesses for trucks, the companies announced late on Thursday.
At 23.55 euros per PKC share, the offer price is 51 percent above PKC's last closing share price. The shares were up 48 percent at 23.11 euros by 0917 GMT on Friday.
"(PKC) are experts in the commercial vehicle segment and we are strong in passenger vehicles, so there's a tremendous amount of synergies that can be created," Motherson Chairman Vivek Chaand Sehgal told a news conference in Helsinki.
Shares in Motherson Sumi, which also makes rear view mirrors, bumpers and dashboards, were up 0.5 percent, valuing the company at around $6.7 billion.
PKC, which last year had sales of about 846 million euros and a core profit of 64 million euros, said its board backs the offer.
"We consider approval of the offer very likely and the price per share very good," market analysis firm Inderes said in a note to investors.
(Reporting by Jussi Rosendahl and Tuomas Forsell; Editing by Leslie Adler, Greg Mahlich)