Business Services Industry
Rinker rival says Florida's not lost.
Australasian Business Intelligence, May, 2007
Byline: Scott Rochfort
May 02, 2007 (The Sydney Morning Herald - ABIX via COMTEX) -- Two US building materials companies say there are signs the troubled housing market there is already in recovery. The upbeat assessment from Florida Rock and Vulcan Materials could be troublesome for Mexican cement group Cemex, which is making a $A17bn takeover bid for Australian-listed Rinker Group. Cemex has been talking down the US housing market, where Rinker gets much of its income, in order to boost support for its offer of $US15.85 per share. Cemex executives have been in Australia in late April and early May 2007 trying to convince Rinker's institutional investors to support the bid.
Publication Date: 3 May 2007
RINKER GROUP LIMITED - ASX RIN...
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