Brazilian Steel Co. CSN Fires Off $5.6B Bid For Cimpor

Law360, New York (December 18, 2009, 2:33 PM EST) -- Brazilian steelmaker Companhia Siderurgica Nacional announced Friday that it has lobbed a $5.6 billion acquisition bid at Cimpor-Cimentos de Portugal SGPS SA, Portugal's largest cement maker.

The offer represents a €5.75 ($8.23) per share price for all of Cimpor's 672 million shares, a 5 percent premium on Thursday's closing price on the Euronext Lisboa market, CSN said.

Cimpor, which operates in 13 countries on four continents, reported a revenue of €2.1 billion ($3 billion) for 2008, and is particularly reliant on its operations in emerging markets,...
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