Analysts dismiss CRH takeover speculation
Published 22/11/2012 | 12:29
ANALYSTS have dismissed the latest speculation that Irish aggregates giant CRH is being circled by potential bidders including Swiss peer Holcim.
A newspaper report today suggests a £19 a share deal might be under consideration by a potential buyer and that Holcim or China National Materials Group could be one of the firms interested.
CRH – which has a market valuation of €10.1bn based on its Dublin share price - said it never comments on speculation.
Davy Stockbrokers pointed out this morning that Holcim has pulled back significantly from M&A activity and that a potential purchase of CRH is “very unlikely”.
Shares in CRH – whose primary listing is in London – had barely moved in early morning trading suggesting that investors have dismissed the takeover rumour.
Shares in Holcim were down just very slightly in Zurich.
The company completed capital markets day presentations to investors in New York this week, having spent a day in London last week. It set out its growth strategy and detailed challenges and opportunities in European and US markets.