HeidelbergCement declines to comment on takeover rumours

HeidelbergCement declines to comment on takeover rumours
Published: 30 October 2008

HeidelbergCement has declined to comment on rumours that German entrepreneur Adolf Merckle might carry out a complete takeover of the company. The company’s share price gained 10.7 per cent, nonetheless.

According to stock market sources, the speculation has been fuelled by recent purchases of HeidelbergCement shares by Mr Merckle’s asset management company, VEM.