FLSmidth and Weir Group PLC offer competing bids for Ludowici

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.  

Read the article online at: https://www.worldcement.com/asia-pacific-rim/16022012/flsmidth_and_weir_group_compete_for_ludowici_shares/