Lafarge shares fall with rejected merger deal
Shares in cement group Lafarge fell around 2 percent when two Holcim shareholders rejected the revised deal for the companies’ merger, says The Irish Times.
Russian businessman Filaret Galchev and Harris Associates both rejected the new terms, reports The Irish Times. Galchev, who owns a 10.8 percent stake in Holcim via Eurocement Holding AG, said the terms were not satisfactory. Harris Associates, which owns 3.19 percent of Holcim’s shares according to Thomson Rueters data, said it would not accept the deal until it knows who will take Lafarge boss Bruno Lafont’s place.
“Before we decide on the transaction we first want to know who will be put forward for this post,” says David Herro, chief investment officer for international equities at Harris.
According to The Irish Times, CRH also has agreed to purchase 6.5 billion euros worth of assets from the proposed Holcim-Lafarge merger.
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
If you enjoyed this article, subscribe to Pit & Quarry to receive more articles just like it.
