Cemex in talks to buy Deepak Cements

Cemex in talks to buy Deepak Cements
Published: 02 January 2007

Cemex is reportedly in talks to take over unlisted Deepak Cements & Chemicals, the DNA newspaper reported, citing unnamed sources.  
 
The paper said that Chairman and Managing Director Hemant Pandey of Deepak Cements, a western India-based company, couldn’t be reached for comment.  
 
The paper citing, an unnamed industry source, said negotiations between Cemex and Deepak Cements have been ongoing for the last three months but there is a gridlock over valuations.