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MELBOURNE, Australia (AP) - Mexican cement giant Cemex SA declared its $14.25 billion takeover offer for Rinker Group Ltd. was unconditional Thursday after it gained 50.3 percent of Australia's largest building materials maker.
In the past month, Cemex has added 1 percent of Rinker stock each trading day after it raised its offer 22 percent to $14.25 billion, dropped the conditional minimum acceptance level to 50 percent from 90 percent and agreed investors could keep Rinker's 25 Australian cent final dividend.
"We are pleased with the support we have received from the Rinker shareholders who to date have accepted our offer," Cemex Chairman Lorenzo Zambrano said in a statement.
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