In today’s briefing:
- Adbri (ABC AU) Warms To CRH/Barro’s Offer
Adbri (ABC AU) Warms To CRH/Barro’s Offer
- Construction play Adbri (ABC AU) has entered into a process and exclusivity deed with CRH (CRH US) and 42.7%-shareholder Raymond Barro (Chairman) in order to progress to a firm transaction.
- CRH/Barro’s non-binding indicative proposal of $3.20/share (in cash), by way of a Scheme, is a 41% premium to last close. The proposal is best & final.
- Subject to DD being carried out by CRH, this looks done.
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