Eagle Cement denies reports of Holcim Philippines acquisition

Eagle Cement Corp has released a clarification statement denying reports that it had submitted a bid for Holcim Philippines this week. The statement reads:

"By way of clarification and response to the exchange, we advise that [the] company is not involved in any discussion for the acquisition of Holcim Philippines ("Holcim"). However, we further advise that Mr Ramon S Ang, chairman of the company, expressed on several occasions interest in the assets of Holcim."

Holcim Philippines has also confirmed that it is not aware of any bid submitted by the company.