St. Lawrence board recommends higher Holcim bid

St. Lawrence board recommends higher Holcim bid
Published: 17 July 2007

St. Lawrence Cement said on Monday its board had unanimously recommended that shareholders accept a sweetened takeover offer of C$43.50 a share from Swiss cement maker Holcim .

Holcim’s made its revised C$681 million ($653 million) offer on Friday, up from its previous bid of C$630 million, or C$40.25 a share, which had also been endorsed by the board of Montreal-based St. Lawrence.