Subsequent to the announcement from Lafarge and Holcim that they plan to revisit certain terms of their merger agreement, CRH plc – who entered into exclusive negotiations for the purchase of divested Lafarge and Holcim assets – has released the following statement:
CRH notes the announcement this morning [16 March 2015] by Holcim, stating that its board has concluded that the Combination Agreement between Holcim and Lafarge can no longer be pursued in its current form, and that Holcim has proposed to enter into negotiations in good faith with Lafarge around the exchange ratio and governance issues. CRH also notes Lafarge’s announcement confirming its commitment to the Combination and its willingness to explore the possibility of a revision of the exchange ratio but that it will not accept any other modification of the terms of the existing agreements.
As set out in the Circular to shareholders dated 20 February 2015, CRH will hold an Extraordinary General Meeting at 9.30 am on 19 March 2015 to approve the acquisition by CRH of the Lafarge Holcim disposal assets.
Adapted from press release by Louise Fordham