DUBLIN (dpa-AFX) - Building materials group CRH plc (CRH, CRH.L) said that it received Ash Grove shareholder approval for proposed acquisition of Ash Grove Cement Company by CRH 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.
On 21 September 2017, CRH plc announced that it had reached an agreement to acquire Ash Grove Cement Company , 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.
CRH noted that it will provide further details as part of its Trading Update on Tuesday 21 November 2017.
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