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Article: Will Lafarge Pony Up More for U.S. Sub?(North American subsidiary Lafarge North America Inc.)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- March 13, 2006
- Author:
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Paris-based cement maker Lafarge SA will have to pay at least $85 per share if it is serious about acquiring the rest of its North American subsidiary Lafarge North America Inc. (LNA), say sources.
A week ago, Herndon, Va.-based LNA asked its parent for more time to consider the $75-per-share squeeze-out offer, and Lafarge SA pushed the deadline back to April 3.
On Feb. 6, $18 billion market cap Lafarge SA announced it would launch a tender for the 46.8% of $6 billion market cap LNA it does not own. Shares of LNA jumped nearly 30% to $82.75. The shares closed at $82.62 at press time.
While most sources believe the two cement companies will reach ...