Cemex gains 73.96 per cent of Australia’s Rinker, extends offer period

Cemex gains 73.96 per cent of Australia’s Rinker, extends offer period
Published: 22 June 2007

Cemex SA said it has now gained 73.96 per cent of Rinker Group Ltd via its US$14.25bn offer for the Australia-listed heavy construction materials group.  
 
The Mexican group, the world’s third largest cement maker, has also extended the offer period by 3 weeks to July 16.  
 
The offer of US$15.85/share, which was revised on April 10 from an initial offer of US$13.00, was due to close today.  
 
Cemex took control of the Rinker board on Tuesday after moving over the 50 per cent acceptance level on June 8.  
 
Rinker earns about 80 per cent of its revenue in the US.