Hints and tips:
...Having swapped the Rinker debt for bank loans, Cemex has secured all its financing needs until 2014....
...The $14.2bn acquisition of Rinker was the biggest deal in the global construction materials industry and the largest overseas purchase by a Mexican company....
...John Morshel, Rinker chairman, on Tuesday described Cemex’s higher offer as “bittersweet”, saying “we couldn’t find an alternative to this bid” that offered similar returns....
...Still, Mexican cement giant Cemex’s $17bn takeover of Australia’s Rinker shows that those global blue chips with long-term expansion strategies can continue to execute deals smoothly....
...John Morschel, Rinker’s chairman, said last week that the group was “considering all alternatives at the moment”, as well as holding preliminary talks with “a lot of players”....
...John Morshel, Rinker’s chairman, said: “We’ve had very preliminary discussions with a lot of players in the industry … The board would consider offers that may emerge as a result of this action by Cemex....
...John Morschel, Rinker’s chairman, recently said that the group was “considering all alternatives at the moment,” as well as holding preliminary talks with “a lot of players”....
...Rinker has yet to make a formal recommendation to shareholders on Cemex’s offer, but John Morschel, chairman, said there had been no discussions with the Mexicans since the bid two weeks ago....
...materials company - 82 years against 30 for Rinker....
...But his father John, the founder and former chairman, died last year....
...Cemex had a $12bn bid for Australia’s Rinker rebuffed this week....
...However, John Meyer of Numis Securities said Antofagasta had reported a fall in unit production costs in its third quarter production report on Tuesday and fund managers had seen the implications of this...
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