Last month’s merger forming LafargeHolcim Ltd. expedited transfer of more than $1 billion in cement, concrete and aggregate production and distribution assets in the U.S. and Canada. The Federal Trade Commission justified a decision and order on the sale of those properties per Section 7 of the Clayton Act, a century-old law augmenting the Sherman Act of 1890. It prohibits mergers if “in any line of commerce or in any activity affecting commerce in any section of the country, the effect of such acquisition may be substantially to lessen competition, or to tend to create a monopoly,” FTC notes.
Sources: CRH Plc, Dublin; CP staff
CRH has closed on a portfolio of Lafarge S.A. and Holcim Ltd. cement, concrete and aggregate production assets in 10 countries across the Americas and Europe. At a $7.2 billion enterprise value, the transaction is among the largest to date involving publicly traded, global heavy building materials companies—trailing Cemex-Rinker and HeidelbergCement-Hanson ($15 billion–$16 billion; 2007) and Lafarge-Orascom ($12 billion, 2008).Read More
Federal Trade Commission and Canadian Competition Bureau (CCB) have outlined consent agreements approving the scope or direction of Lafarge North America, Holcim (US) Inc. and Holcim (Canada) Inc. operations following the Lafarge S.A. and Holcim Ltd. merger. The mega-deal is set to close in July as an exchange offer commences this month: 10 Lafarge shares for nine Holcim shares, netting LafargeHolcim.Read More
A May 8 Federal Trade Commission statement addresses a consent agreement tied to the Lafarge S.A. and Holcim Ltd. merger, and how Lafarge North America and Holcim (US) Inc. asset sales resolve an administrative complaint alleging anticompetitive effect in 12 U.S. markets and two regions.Read More
Officials in Washington, D.C., and Ottawa confirmed in early-May consent agreements the approved scope or direction of Lafarge North America, Holcim (US) Inc. and Holcim (Canada) Inc. operations following the Lafarge S.A. and Holcim Ltd. merger.Read More
The first quarter of 2015 proved a lively financial period for public and would-be public heavy building materials operators, who commanded investor attention the world over.
Source: American Concrete Institute, Farmington Hills, Mich.; CP staff
A coalition of industry institutes and associations representing individuals and companies that design, fabricate, construct, or maintain concrete structures, the Concrete Joint Sustainability Initiative (CJSI) has appointed Lafarge Construction Specialist Julie Buffenbarger as chair, plus Portland Cement Association CEO James Toscas and ACI Director of Sustainability and Marketing Kevin Mlutkowski as vice chairs, focusing on advocacy and operations, respectively.
Lafarge North America is playing a major role in the construction of a 4,800-ft., two-lane tunnel under the Elizabeth River in Hampton Roads, Va. Adjacent to the existing U.S. 58 Midtown Tunnel, the West Midtown Tunnel will double traffic capacity between the cities of Norfolk and Portsmouth, helping to alleviate congestion while separating tightly confined eastbound and westbound vehicles.
In an early-February U.S. Securities and Exchange Commission filing, CRH Plc confirmed a binding commitment to acquire certain assets Switzerland’s Holcim Ltd. and Paris-based Lafarge SA had bundled for sale, thereby advancing a merger the producers hope to consummate by mid-year. The commitment centers on a transaction with an enterprise value of about $7.4 billion, and encompasses Holcim Canada Inc. plus a host of overseas cement, concrete and aggregate businesses.
Sources: CP staff; CRH Plc, Dublin
In a February 2 U.S. Securities and Exchange Commission filing, CRH cites a binding commitment to acquire certain Holcim Ltd. and Lafarge SA assets, ahead of a planned, mid-year merger creating LafargeHolcim. The commitment centers on a transaction with an enterprise value of about $7.4 billion, and encompasses Holcim Canada Inc. plus a host of overseas cement, concrete and aggregate businesses.Read More