A PYMNTS Company

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.

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.

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

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.