MLM - CRH Proposes To Acquire Australia's Adbri In Partnership With Barro Family: Details | Benzinga
CRH PLC (NYSE: CRH), along with the Barro Group, disclosed a deal to acquire Adbri Ltd for a cash price of A$3.20 per share.
The acquisition price values Adbri at an equity valuation of A$2.1 billion ($1.4 billion) on a 100% basis. The deal values the 53% of issued share capital that Partners Barro and CRH do not currently have an interest in and which CRH has agreed to acquire at A$1.1 billion ($0.75 billion).
Barro, an Australian family-owned business, presently has a 43% stake in Adbri, and CRH holds 4.6% interest via a cash-settled derivative. As per the deal, CRH will buy the remaining 57% of Adbri's shares ...