Ludwig Merckle, the son of late billionaire Adolf Merckle, has regained a blocking minority stake in cement maker HeidelbergCement, securing protection against hostile takeover bids.
Merckle’s shareholding exceeded the threshold of 25%, after the Merckle family had disposed of a major part of its stake following dramatic financial blows in the crisis.
Merckle said the repurchase of shares underscores his long-term plans for the company. Merckle does not plan to buy more shares in the next 12 months.
Source: Financial Times Deutschland