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Are Holcim shareholders happy with Lafarge merger?

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World Cement,

In an article published on 28 February, Bloomberg reports that some Holcim shareholders are unhappy with the proposed terms of the merger with Lafarge. Recent results show that Holcim is in a better financial position than Lafarge, leading to concern among shareholders that the 1:1 share-exchange ratio is unfair.

Bloomberg reports that Holcim and Lafarge may be considering paying a special dividend to placate shareholders. This might be preferable to renegotiating the terms of the merger, which is said to reflect the ‘long-term prospects of the two companies’. However, the report also quotes an analyst at AlphaValue in Paris, who says that the deal is unlikely to be detrimental to either company, given the two companies’ histories in the last 2 – 4 years.

Bloomberg reports: ‘For the merger to go through under its current terms, at least two-thirds of Holcim shareholders still must approve a capital increase.’ This vote is due to take place at an extraordinary meeting on 13 April.

Read the full report here.

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