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| Italcementi -Ciments Français merger abandoned Italian cement maker Italcementi said merger plans with French unit Ciments Francais (CMFP.PA) have been abandoned. The requests presented by the group of U.S. institutional investors who hold notes issued by Ciments Français in 2002 and 2006, for a total amount of USD 500 million, were indeed deemed excessive and unacceptable by the two companies, and not consistent with the purpose of the merger. Accordingly, the proposed merger was abandoned. Shares in Italcementi were up more than 5 percent in early trade after it said merger plans have been abandoned. write your comments about the article :: © 2009 Construction News :: home page |