Holcim hikes offer for St Lawrence minority shareholders
Holcim said it will increase its offer to minority shareholders of St Lawrence Cement Group to C$43.50 in cash per share, from C$40.25, taking the total value of the revised offer to C$681m.
The Swiss cement maker said the offer has been extended to July 30.
The revised offer represents Holcim’s best and final offer to SLC’s minority shareholders and the offer will not be further extended if the minimum tender is not met, the group said.
Today’s offer represents a 44 pct premium over the volume weighted average trading price of the shares on the Toronto Stock Exchange for the 20 trading days ended February 23, 2007, the last trading date prior to Holcim’s announcement of its original proposed offer, it added. Published under Cement News
