Australia’s Rinker to be suspended from trading July 18 on Cemex takeover
Australian construction materials group Rinker Group Ltd said on Friday that its shares will be suspended from trading on the Australian Stock Exchange on July 18 following its takeover by Mexico’s Cemex SA.
Cemex, the world’s third-largest cement company, is moving to a compulsory acquisition of outstanding shares after gaining more than 90 per cent of Rinker’s issued capital via its US$14.25bn.
Cemex launched its bid for Rinker last October, saying it wanted to expand its presence in the United States, where it is already the biggest supplier of cement. Rinker earns about 80 per cent of its income in the US. Published under Cement News
