DOJ Reaches Tentative Truce Over Concrete Merger

Law360, New York (April 5, 2007, 12:00 AM EDT) -- After trying to block the proposed merger, the U.S. Department of Justice has negotiated a settlement with Cemex SA that will require the Mexican ready-mix concrete producer to make certain divestures if its hostile takeover bid for rival Rinker Group succeeds.

On Thursday, the DOJ’s Antitrust Division revealed that Cemex has agreed to shed 39 ready-mix concrete facilities assuming the company’s $5.8 billion acquisition of its Australian competitor proceeds without a hitch.

The move is aimed at satisfying the agency, which had previously filed suit to...
To view the full article, register now.