Lafarge bids for remainder of Lafarge North America

Lafarge bids for remainder of Lafarge North America
Published: 06 February 2006

Lafarge said it is launching an offer for the 46.8 per cent of shares held by minority shareholders in its Lafarge North America unit.

It said it will offer US$75 per share for the 35.3m shares. Counting options currently in circulation, the transaction’s total value could reach US$3bn.

The offer price represents a 16.7 per cent premium over Friday’s closing price of Lafarge North America.

The offer will be launched in about two weeks. Shares of Lafarge Canada, a unit of Lafarge North America, will also be included.

Lafarge CEO Bruno Lafont said the move will let the company speed decision making and pursue its North American development with greater efficiency.