Lafarge Group upped the ante late last month, from $82 to $85.50/share, in a tender offer for outstanding minority shares of Lafarge North America. Shortly
CP STAFF
Lafarge Group upped the ante late last month, from $82 to $85.50/share, in a tender offer for outstanding minority shares of Lafarge North America. Shortly after the announcement, members of a Lafarge NA special committee that had assembled to review the $82 and $75/share offers (April 4, February 6) unanimously recommended that shareholders accept the $85.50 target. The revised offer, covering 46.8 percent of Lafarge NA stock that Lafarge Group does not hold, was to run through May 12. The Group concluded in late April that a $3.50/share increase was warranted. Lafarge NA shares subsequently traded in the $85.27 to $85.33 range.