Heidelberg investors sell only 0.01% of shares to Spohn last week, Germany

Heidelberg investors sell only 0.01% of shares to Spohn last week, Germany
Published: 06 July 2005

HeidelbergCement AG shareholders holding only 11,611 shares, or 0.01% of voting rights, have accepted Spohn Cement GmbH’s takeover offer in the past week, according to an announcement Spohn placed in Boersen-Zeitung. 
 
The offer period ends on July 26. 
 
Spohn said it now holds 16.68% of voting rights in the MDAX-listed cement maker, while parties affiliated with Spohn held 10.91% of voting rights.  Subsidiaries of affiliated parties hold 3.83% of voting rights. 
 
On June 12, Spohn announced a EUR 60/share or total EUR5.8bn bid for HeidelbergCement that is reportedly backed up by private investor Adolf Merckle.