Ann: Market Update, page-2

Very vague and given that a number of components of the overall proposed transaction have still to be worked out it gives very little certainty as to whether a deal can be worked out. Shadforth's conducted due diligence on CRH and walked away as did Anchorage 12 months later. Findex has run two rounds of due diligence and there is still vagueness in this offer. A number of CRH's institutional share holder used the last 6 months of activity to sell down their holdings. This still has a number of rounds to go before a deal can come about IMO.