CEMEX extend offer to acquire Rinker
CEMEX have extended their offer to acquire shares of Rinker Group Ltd until 8 June 2007 and have said they will waive their 90% minimum acceptance condition if their aggregate interest in Rinker shares exceeds 50% on or before that date.
The company added that Rinker shareholders who are entitled to the final dividend of A$0.25 per share will retain that dividend, irrespective of when they accept the CEMEX offer.
CEMEX’s offer of US$15.85 per share has been declared final with regard to price and the company is encouraging Rinker shareholders to accept the revised offer as soon as possible.
Lorenzo H. Zambrano, chairman of the board and CEO of CEMEX, said: ‘Rinker shareholders will now receive both the final Rinker dividend and the offer of US$15.85 per share. We have made arrangements for Rinker shareholders to receive the dividend irrespective of when they accept the offer, which provides further incentive for shareholders to accept the CEMEX offer immediately.’
It has also been announced that Perpetual Group, Rinker’s largest shareholder, have accepted the offer for all of their Rinker shares. The CEMEX offer already has the unanimous recommendation of the Rinker board in the absence of a superior proposal.
