Cemex gets FDI nod for Rinker bid

Cemex gets FDI nod for Rinker bid
Published: 08 March 2007

Cemex has reportedly received foreign investment approval from the federal government for its hostile takeover bid for Rinker Group Ltd.

Subsidiary Cemex Australia Ltd announced today that a defeating condition of its offer relating to Australian foreign investment approval had been fulfilled.

Rinker has urged its shareholders to reject Cemex’s US$12bn (A$15.4bn) offer, which it described last November as "far too low".