CRH receives Ash Grove shareholder approval for US$3.5bn acquisition
20 October 2017
On 21 September 2017, CRH plc announced that it had reached an agreement to acquire Ash Grove Cement Company (“Ash Grove”), a leading US cement manufacturer headquartered in Overland Park, Kansas, for a total consideration of US$3.5 billion.
On 5 October 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 October 20, 2017.
As announced by Ash Grove today, 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 Tuesday 21 November 2017.
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For further information contact CRH plc at +353 1 404 1000
|Albert Manifold ||Chief Executive |
|Senan Murphy ||Finance Director |
|Frank Heisterkamp ||Head of Investor Relations |