Cemex increases stake in Australia’s Rinker to 39.42%

Cemex increases stake in Australia’s Rinker to 39.42%
Published: 01 June 2007

Cemex SA said it has increased its stake in  Rinker Group Ltd to 39.42 per cent from 37.39 per cent via its US$14bn offer for the Australian construction materials group, edging closer the 50 per cent minimum acceptance level.  
 
Cemex yesterday announced it would extend the deadline for its US$15.85 a share offer to June 22 from June 8.  
 
It also lowered is minimum acceptance condition to 50 per cent from 90 per cent previously.  
 
Rinker’s board recommended the offer, which was revised in April from an initial 13.00 usd a share offer made in October.