Newsbyte: CSN’s bid for Cimpor unsucessful

Less than 9% of shareholders have taken up CSN’s offer to purchase a 33% stake plus one share in Cimpor, the Portuguese cement manufacturer at the centre of takeover talks for the last few months.

This failure will not necessarily put CSN off altogether; they may come back with an alternative offer or attempt to purchase a stake through other means. Interest in Cimpor is so high because of the company’s interests in emerging markets, particularly Brazil, where demand is expected to rise in the lead-up to the 2014 FIFA World Cup and the 2016 summer Olympics.

Read the article online at: https://www.worldcement.com/the-americas/01032010/csn%E2%80%99s_bid_for_cimpor_unsuccessful/