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| Lafarge to buy the 46.8 percent in Lafarge North America Lafarge, the world leader in building materials, planned a $3-billion cash offer to buy the 46.8 percent it does not own in Lafarge North America. Lafarge intends to offer Lafarge North America shareholders US$75 in cash for each Lafarge North America share they hold, representing a 16.7 percent premium over the stock's closing price on Friday, the group said in a statement. JP Morgan and BNP Paribas are acting as joint financial advisors and dealer managers and Cleary Gottlieb Steen & Hamilton LLP is acting as legal advisor to Lafarge in connection with the tender offer. Lafarge holds top-ranking positions in all four of its divisions: Cement, Aggregates & Concrete, Roofing and Gypsum. Lafarge employs 77, 000 people in 75 countries and posted sales of €14.4 billion in 2004. Lafarge North America is one of the largest publicly traded construction materials providers in North America. Lafarge North America today is a 53.2%-owned subsidiary of Lafarge. The company has been listed on the New York Stock Exchange since 1983 and is also listed on the Toronto Stock Exchange. write your comments about the article :: © 2006 Construction News :: home page |