SI
SI
discoversearch

Strategies & Market Trends : Speculating in Takeover Targets
MNTX 8.48+0.6%4:30 PM ESTNews

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: richardred who wrote (4475)10/6/2017 11:53:10 AM
From: richardred  Read Replies (2) of 4670
 
RE- Infrastructure building acquisition trend


Summit Materials makes $3.8 billion bid for Ash Grove Cement: source



Tom Hill (3rd L), CEO of cement maker Summit Materials Inc., claps before the company's IPO on the floor of the New York Stock Exchange March 12, 2015. REUTERS/Lucas Jackson

LONDON (Reuters) - U.S. cement maker Summit Materials ( SUM.N) has made a $3.8 billion offer for rival Ash Grove Cement ( ASHG.PK), a source familiar with the matter told Reuters, hoping to trump an earlier takeover bid from Irish building materials firm CRH Plc ( CRH.I).

Ash Grove said earlier on Friday that it had received a new bid from an unnamed party which valued the business at $3.7-$3.8 billion.

The source said Summit Materials’ bid was submitted on Thursday and is currently being considered by Ash Grove’s board.

It could be the start of a bidding war with CRH, which last month agreed to buy Ash Grove for a total consideration of $3.5 billion.
reuters.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

Copyright © 1995-2017 Knight Sac Media. All rights reserved.Stock quotes are delayed at least 15 minutes - See Terms of Use.