HeidelbergCement AG shareholder Adolf Merckle, who is making a takeover offer to other shareholders, already owns a 31.45 per cent stake, according to the detailed conditions of the offering published Tuesday. Merckle holds 31.45 per cent in HeidelbergCement voting rights, both directly - through his control of Spohn Cement GmbH - and indirectly. Spohn Cement said two weeks ago it will offer HeidelbergCement shareholders Euro 60 a share for their stakes, valuing the company around EUR6.5bn. Shareholders have until July 26 to decide whether they will accept the offer.

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