Business Services Industry
Rinker takeover finally set in concrete.
Australasian Business Intelligence, June, 2007
Byline: Philip Hopkins
Jun 07, 2007 (The Age - ABIX via COMTEX) -- Australian-listed Rinker Group is set to fall into foreign ownership, with Mexico-based Cemex declaring its takeover bid unconditional. Cemex has now gained acceptances for 50.34 per cent of the building materials group's shares, and Cemex CEO Lorenzo Zambrano has welcomed the level of support for the bid from Rinker shareholders. Cemex has named its nominees to the Rinker board, while the existing board members will step aside. They have also agreed to sell their shareholdings to Cemex. Rinker shares closed at $A18.70 on 7 June 2007.
Publication Date: 8 June 2007
RINKER GROUP LIMITED - ASX RIN
CEMEX SA
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