Holcim extends Aggregate Industries bid

Holcim said it is extending its takeover bid for Aggregate Industries PLC to March 21.  Holcim said it now owns 78.4 per cent of the UK-based company after receiving acceptances from Aggregate Industries shareholders and buying shares on the stock exchange.  The offer remains conditional on receiving regulatory approval from the European Union Commission, Holcim said.

In January, Holcim offered 140 pence for each share of Aggregate Industries PLC, valuing the UK-based building materials company at around GPB1.8 billion.  Separately, Holcim said it plans to gain control of India’s number two cement player, Associated Cement Companies for US$800m. Regulatory approval by Indian authorities is still outstanding.