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Global: Lafarge/Holcim welcome dozens of bidders

By  |  November 3, 2014

Cement giants Lafarge and Holcim have reportedly received dozens of offers to acquire assets the companies plan to sell to secure regulatory approval to merge.

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    Reports say Switzerland-based Holcim has received more than 60 bids for the assets. The figure was reported in the company’s third-quarter results, which were weaker than expected – a fact, reports say, that highlights the need for its merger with France-based Lafarge.

    Their proposed combination would create the world’s largest cement company; the companies recently submitted their transaction plans to the European Commission, which is now reviewing the merger.

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    Reports say Holcim plans to finalize the due diligence process by the end of the month or by early December; the companies will choose a winning bidder by early next year.

    Holcim says it prefers a single buyer of the assets.

    Full content: Reuters

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