{"id":858,"date":"2015-03-24T07:22:03","date_gmt":"2015-03-23T20:22:03","guid":{"rendered":"http:\/\/www.bnmme.com.au\/?p=858"},"modified":"2015-03-24T07:22:03","modified_gmt":"2015-03-23T20:22:03","slug":"cement-giants-clash-over-merger-terms","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2015\/03\/24\/cement-giants-clash-over-merger-terms\/","title":{"rendered":"CEMENT GIANTS CLASH OVER MERGER TERMS"},"content":{"rendered":"

Global construction materials giants Lafarge<\/strong> and Holcim<\/strong> are in talks to renegotiate the terms of a proposed merger that was slated to create the world\u2019s largest cement company.<\/p>\n

Almost a year after the merger was first announced, Swiss company Holcim has rejected the terms the two parties initially agreed upon.<\/p>\n

According to a statement issued by the company, the Holcim board of directors \u201chas concluded that the combination agreement can no longer be pursued in its present form, and has proposed to enter into negotiations in good faith around the exchange ratio and governance issues\u201d.<\/p>\n

The merger initially involved a one-for-one share exchange ratio. However, multiple media sources indicated that Holcim\u2019s shareholders no longer felt this was adequate, given France-based Lafarge\u2019s weak performance for the year ended 31 December, 2014.<\/p>\n

It was said that the considerable divergence between the two companies\u2019 valuations was partly due to the Swiss National Bank\u2019s decision to remove an exchange cap in mid-January that caused the value of the Swiss franc to soar to record highs.<\/p>\n

Reports indicated that Lafarge\u2019s 2014 financial results had also caused Holcim\u2019s board to question Lafarge CEO Bruno Lafont\u2019s ability to lead the combined LafargeHolcim entity as per the original merger agreement.<\/p>\n

Lafarge responded with its own media release, which stated that it was \u201cwilling to explore the possibility of a revision of the parity, in line with recent market conditions, but it will not accept any other modification of the terms of the existing agreements\u201d.<\/p>\n

Despite this, a Reuters report cited sources familiar with the matter as saying the two parties were discussing new leadership for the new company, which would position Lafont in a \u201clesser role\u201d.<\/p>\n

Quarry approached both Holcim and Lafarge for comment on the matter but neither had responded by the time of publication.<\/p>\n

Update \u2013 21 March 2015
\nAfter hastily convened talks, The Wall Street Journal and Reuters have reported that the two companies have agreed to new terms, which will see Lafont appointed as co-chairman of LafargeHolcim. Holcim\u2019s current chairman Wolfgang Reitzle will be the other co-chairman.<\/p>\n","protected":false},"excerpt":{"rendered":"

Global construction materials giants Lafarge and Holcim are in talks to renegotiate the terms of a proposed merger that was slated to create the world\u2019s largest cement company. Almost a year after the merger was first announced, Swiss company Holcim has rejected the terms the two parties initially agreed upon. According to a statement issued … Continue reading “CEMENT GIANTS CLASH OVER MERGER TERMS”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6],"tags":[],"class_list":["post-858","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-dQ","jetpack-related-posts":[{"id":8774,"url":"https:\/\/yinghuiinternational.com\/index.php\/2024\/06\/28\/holcim-announce-transformative-ai-plan\/","url_meta":{"origin":858,"position":0},"title":"Holcim announce \u2018transformative\u2019 AI plan","author":"yinghui","date":"June 28, 2024","format":false,"excerpt":"ADAM DAUNT Holcim will expand its usage of AI technology. Image: Holcim Holcim will use artificial intelligence to include more than 100 plants worldwide over the next four years under a new plan announced recently.\u00a0 The announcement is an expansion of the company\u2019s current use of artificial intelligence, which has\u2026","rel":"","context":"In "Clients"","block_context":{"text":"Clients","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/clients\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.quarrymagazine.com\/wp-content\/uploads\/2024\/06\/Holcim_2021_Logo_Wall_IsoCV2-1024x683.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.quarrymagazine.com\/wp-content\/uploads\/2024\/06\/Holcim_2021_Logo_Wall_IsoCV2-1024x683.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.quarrymagazine.com\/wp-content\/uploads\/2024\/06\/Holcim_2021_Logo_Wall_IsoCV2-1024x683.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.quarrymagazine.com\/wp-content\/uploads\/2024\/06\/Holcim_2021_Logo_Wall_IsoCV2-1024x683.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":945,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/08\/16\/merger-to-expand-quarry-plant-manufacturers-global-reach\/","url_meta":{"origin":858,"position":1},"title":"MERGER TO EXPAND QUARRY PLANT MANUFACTURER\u2019S GLOBAL REACH","author":"yinghui","date":"August 16, 2015","format":false,"excerpt":"A major international quarry plant manufacturer has announced plans to merge with a global lifting equipment supplier \u2013 a move that could potentially lead to improvements in locally distributed machinery. The boards of Terex Corporation and Konecranes have agreed on terms for a proposed merger, which would lead to the\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8374,"url":"https:\/\/yinghuiinternational.com\/index.php\/2023\/08\/09\/delta-rent-helps-operators-stay-on-top-of-the-sand-pit\/","url_meta":{"origin":858,"position":2},"title":"Delta Rent helps operators stay on top of the sand pit","author":"yinghui","date":"August 9, 2023","format":false,"excerpt":"ADAM DAUNT Holcim Grantville has two AG45s on site which are made for the conditions and driving the clay tracks. Holcim Australia\u2019s Grantville Quarry utilises two articulated dump trucks and two front-loaders to stay on top of the competition, thanks to a partnership with Delta Rent. The Grantville Quarry, which\u2026","rel":"","context":"In "Clients"","block_context":{"text":"Clients","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/clients\/"},"img":{"alt_text":"Delta Rent","src":"https:\/\/i0.wp.com\/www.quarrymagazine.com\/wp-content\/uploads\/2023\/08\/Unknown-1024x768.jpeg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.quarrymagazine.com\/wp-content\/uploads\/2023\/08\/Unknown-1024x768.jpeg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.quarrymagazine.com\/wp-content\/uploads\/2023\/08\/Unknown-1024x768.jpeg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.quarrymagazine.com\/wp-content\/uploads\/2023\/08\/Unknown-1024x768.jpeg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":3292,"url":"https:\/\/yinghuiinternational.com\/index.php\/2019\/02\/26\/barrick-launches-25bn-bid-for-newmont\/","url_meta":{"origin":858,"position":3},"title":"Barrick launches $25bn bid for Newmont","author":"yinghui","date":"February 26, 2019","format":false,"excerpt":"Barrick Gold has officially unveiled an offer to merge with Newmont Mining after several days of anticipation it would make a tilt for the gold rival. 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Photo: Dean Osland Bradken chairman Nick\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"1440932443109","src":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2015\/09\/1440932443109.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2015\/09\/1440932443109.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2015\/09\/1440932443109.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":969,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/09\/02\/bradken-ends-merger-talks\/","url_meta":{"origin":858,"position":5},"title":"Bradken ends merger talks","author":"yinghui","date":"September 2, 2015","format":false,"excerpt":"Mining services group Bradken has announced it will not continue merger discussions with Chilean industrial group Sigdo Koppers. The parties had agreed to work together to review the strategic and financial merits of a potential merger during a 60 day exclusivity period which expired on the 29th of August. 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