Skip to main content

Newsbyte: CSN changes tack on Cimpor bid

World Cement,

Having failed to impress Cimpor with its original bid back in December, CSN has made an alternate offer – a smaller stake at a higher price. CSN is offering to purchase one third plus one share of the Portuguese cement producer at 7.4% above its initial offering. Thomson Reuters estimates that the value of the transaction could reach €1.39 billion.

According to Portuguese law, a company may hold up to 33% stake in another company without having to make a takeover bid; if larger, a bid must be presented.

Read the article online at:


Embed article link: (copy the HTML code below):