FLSmidth has entered into a scheme implementation agreement with Ludowici Ltd in which the company has offered to buy Ludowici’s shares for AUS$10 each. FLSmidth had previously announced its intention to acquire the Australian company in order to expand its mineral and customer service activities in the region. The original bid stood at AUS$7.20 per share but has been increased following an expression of interest from Weir group PLC. Weir offered Ludowici a conditional proposal of AUS$7.92 and has since submitted its objections over FLSmidth’s ability to increase its share price offer to the Australian Takeovers Panel.
FLSmidth and Weir Group PLC offer competing bids for Ludowici
FLSmidth Continues Negotiations to Acquire Ludowici
Negotiations with Ludowici continue as FLSmidth considers the acquisition of the Australian company.
FLSmidth and SEPEC in Air Pollution Control Joint Venture
FLSmidth and Sino Environment Engineering Development Company Ltd are to launch a joint venture to sell air pollution control products to China’s cement industry.
FLSmidth releases its Interim Report
Danish engineering group FLSmidth & Co A/S cut its full-year 2011 expectation for cement capacity growth as activity in India stalled and third-quarter profits fell in line with forecast.
FLSmidth adds to its minerals business
FLSmidth has signed an agreement to acquire the assets of the privately owned company Knelson, a Canada based corporate partnership that is active within the minerals industries.