CEMEX is under mounting pressure to sweeten its $16 billion takeover bid for Rinker Group, amid speculation the Australian company is eyeing a potential tie-up with the UK construction materials group Hanson.
With the stronger $A the value of Cemex’s bid had fallen by -3.5%, so they have to increase just to keep it in line with original !! RIN says it is willing to talk if the premium offered is improved. Cemex expected to bid again with a floor price of around $20. Also Cemex executives are to vist Australia and meet major holders next week.
RIN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
