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AccessMyLibrary    Browse    A    AsiaPulse News    NOV-06    AUSTRALIA'S RINKER RECOMMENDS SHAREHOLDERS REJECT TAKEOVER BID.

AUSTRALIA'S RINKER RECOMMENDS SHAREHOLDERS REJECT TAKEOVER BID.

Publication: AsiaPulse News

Publication Date: 29-NOV-06
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COPYRIGHT 2006 Asia Pulse Pty Ltd

SYDNEY, Nov 29 Asia Pulse - Construction materials maker Rinker Group Ltd (ASX:RIN) today recommended shareholders reject a takeover offer by Mexico's Cemex because the bid is too low.

In a unanimous recommendation, Rinker's board said Cemex's offer of $A16.84 ($US13.18) a share valued the company too low.

An...

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