CRH receives shareholder approval for US$3.5B Ash Grove acquisition
October 27, 2017 By CRH
October 27, 2017 – On Sept. 21, 2017, CRH plc announced that it had reached an agreement to acquire Ash Grove Cement Company (Ash Grove), a leading U.S. cement manufacturer headquartered in Overland Park, Kansas, for a total consideration of U.S.$3.5 billion.
On Oct. 5 2017, having received an unsolicited, preliminary, non-binding competing acquisition proposal, Ash Grove extended the period for obtaining shareholder approval for the transaction until 5:00 p.m. (New York time) on Oct. 20, 2017.
As announced by Ash Grove, CRH has now received Ash Grove shareholder approval for the proposed acquisition at a total consideration of US$3.5 billion. The transaction remains subject to regulatory approval and is expected to close in late 2017 or early 2018.
Further details will be provided as part of CRH’s Trading Update on Nov. 21, 2017.
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