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LaFarge Coppee S.A. ADR (LFRGY)

- OTCPK - Current
  • Today, 4:25 AM
    • Eurocement, the second-largest shareholder in Holcim (OTCPK:HCMLY), plans to vote against the Swiss company's union with Lafarge (OTCPK:LFRGY) unless the financial terms of the deal are altered.
    • Last week, the two cement companies salvaged their $44B merger with a revision to their agreement, saying Holcim would offer 0.90 of one of its shares for each one of Lafarge, instead of a one-for-one swap.
    • Eurocement alone can’t derail the deal, which requires the approval of two thirds of Holcim's shareholders at an extraordinary meeting (scheduled for May 8).
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  • Fri, Mar. 20, 2:23 AM
    • After several days of intense negotiations, Europe's two largest cement companies Holcim (OTCPK:HCMLY) and Lafarge (OTCPK:LFRGY) have salvaged their $44B merger by reconciling differences over financial terms and management.
    • Under the new arrangement, Holcim will pay about 0.90 of one of its shares for each one of Lafarge (instead of a 1:1 ratio), while Lafarge CEO Bruno Lafont will become co-chairman of the combined group rather than its new head.
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  • Thu, Mar. 19, 7:18 AM
    • Holcim (OTCPK:HCMLY) and Lafarge (OTCPK:LFRGY) are progressing in last-ditch talks to salvage their $44B cement merger, Bloomberg reports, stating the possibility that a preliminary agreement could be reached as early as today.
    • The cement giants are discussing revised figures where Holcim would give about 0.90 of a share in return for one Lafarge share, instead of the original 1:1 ratio.
    • The two have also reached a preliminary understanding to make Lafarge CEO Bruno Lafont co-chairman of the new entity (along with Holcim Chairman Wolfgang Reitzle) amid growing resistance to him taking the top job.
    • Another Lafarge executive is likely to be chosen as the new CEO of the merged company instead.
    • Previously: Holcim, Lafarge weigh merger (Mar. 18 2015)
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  • Wed, Mar. 18, 7:40 AM
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  • Mon, Mar. 16, 9:29 AM
    • Confirming the rocky status of the Lafarge-Holcim merger, Lafarge (OTCPK:LFRGY) has announced it received a letter yesterday from Holcim's (OTCPK:HCMLY) Chairman stating that its board had chosen not to pursue the execution of the combination agreement per the terms they established on July 7, 2014.
    • Holcim's board also challenged the financial terms and governance structure of the proposed merger of equals.
    • Lafarge's board says it remains committed to the project and is willing to explore the possibility of a revision of the parity, but will not accept any other modification of the terms of the existing agreements.
    • Previously: Holcim proposes changes to cement Lafarge deal (Mar. 16 2015)
    • Previously: FT: Holcim, LaFarge may reconsider terms of merger deal (Mar. 11 2015)
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  • Mon, Mar. 16, 2:53 AM
    • Holcim (OTCPK:HCMLY) has proposed changes to its planned merger with Lafarge (OTCPK:LFRGY) that include a modification of their proposed share-exchange ratio and management structure, Bloomberg reports.
    • While the original ratio was 1:1, Holcim is now proposing that Lafarge adopt a 0.875 weighting and Lafarge has signaled it will counter with a weighting of 0.93.
    • Lafarge CEO Bruno Lafont had been picked to lead the combined company, which will be the world’s largest cement maker with $44B in annual sales.
    • Previously: FT: Holcim, LaFarge may reconsider terms of merger deal (Mar. 11 2015)
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  • Wed, Mar. 11, 2:33 PM
    • Holcim (OTCPK:HCMLF) and Lafarge (OTC:LFGEF) are in talks to renegotiate the terms of their €41B merger after a divergence in the value of the two companies over the past year, Financial Times reports.
    • Holcim shareholders have raised concerns over the terms of the deal in recent weeks.
    • In euro terms, shares in Holcim have gained 6.8% vs. a 0.6% loss for Lafarge since the deal was announced last April; Holcim is worth €23B to Lafarge’s €18.5B, whereas their respective values last April were €21B and €18.4B.
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  • Mon, Mar. 9, 3:47 PM
    • Holcim (OTCPK:HCMLF) came under pressure today to secure improved terms for its shareholders in a planned merger with Lafarge (OTC:LFGEF), as Holcim's largest stakeholder reportedly is demanding a better deal.
    • Analysts have seen it coming, with a potential divergence in earnings prospects opening the possibility of a renegotiation of the deal which is based on each Lafarge share being swapped for one Holcim share.
    • The 20% shareholder seeks to change the exchange ratio of shares to favor Holcim investors rather than being one-for-one, or wants a special dividend.
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  • Mon, Feb. 23, 7:47 AM
    • Holcim (OTCPK:HCMLY) reported 2014 profits slightly above forecast after exceeding its cost-cutting target and said its merger with France's Lafarge (OTCPK:LFRGY) was on track to complete in the first half of the year.
    • Net sales fell 3% to 19.1B francs ($20.2B) due to negative currency impacts, but gained 3% on a like-for-like basis.
    • Adjusted operating profit increased 5% in 2014, or 10% on a like-for-like basis, to 2.47B francs, while net profit attributable to shareholders rose 1% to 1.29B, beating expectations.
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  • Mon, Feb. 2, 6:46 AM
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  • Mon, Feb. 2, 3:10 AM
    • Holcim (OTCPK:HCMLY) and Lafarge (OTCPK:LFRGY) have moved a step closer toward obtaining regulatory approval for their merger after the two confirmed plans to sell assets to Irish building supplies group CRH (NYSE:CRH) for $7.34B.
    • CRH was a finalist in an auction for the assets, battling in the past few days with a consortium led by Blackstone (NYSE:BX).
    • The new company created from Lafarge and Holcim's merger will become the world's biggest cement maker with $44B in annual sales.
    • Previously: CRH, Blackstone said to consider purchasing Lafarge-Holcim assets (Jan. 22 2015)
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  • Dec. 13, 2014, 2:29 PM
    • Buyout giant Bain capital may announce a deal to acquire CRH's (NYSE:CRH) clay brickwork division in the coming week, sources say.
    • The unit could fetch £400-450M.
    • CRH is selling peripheral businesses in order to fund acquisitions of up to €1.5B.
    • CRH previously signaled it may consider buying cement assets being sold by Lafarge (OTC:LFGEF, OTCPK:LFRGY) and Holcim (OTCPK:HCMLF, OTCPK:HCMLY), who are trying to complete a $40B merger. Bain is also thought to be looking at acquiring Lafarge and Holcim's assets.
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  • Oct. 30, 2014, 7:00 AM
    • Holcim (OTCPK:HCMLY) no longer plans to form a joint organization with Cemex (NYSE:CX) in Spain due to its merger plan with Lafarge (OTCPK:LFRGY).
    • Lafarge and Holcim formally notified the European Commission of their plan to create the world's largest cement group with $44B in yearly sales on Tuesday.
    • Cemex will instead take over two of Holcim's cement operations in Spain for €45M euros ($56.7M) in cash.
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  • Oct. 28, 2014, 4:58 AM
    • Holcim (OTCPK:HCMLY) and Lafarge (OTCPK:LFRGY) have formally notified the European Commission of their merger plan, which will create the world's largest cement group with $44B in annual sales.
    • The deal is sure to result in multi-billion dollar disposals to secure regulatory approval.
    • The two are in ongoing talks with buyers of assets they are planning to sell, and plan to close the deal during the first half of 2015.
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  • Jul. 7, 2014, 7:42 AM
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  • May. 21, 2014, 7:59 AM
    • Holcim's (HCMLF, HCMLY) second-biggest shareholder, Filaret Galchev, has agreed to support the Swiss cement company's $40B merger with France's Lafarge (LFGEF, LFRGY) if he can bid for assets that the combined company plans to divest in order to win regulatory approval for the deal, the FT reports.
    • Galchev holds 11% in Holcim via his control of Eurocement, Russia's largest cement maker by sales.
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Company Description
Lafarge is a holding company. Through its subsidiaries, Co. is engaged in the manufacturing of construction materials. Co. operates through four business divisions: The Cement division; The Aggregates & Concrete Division; The Roofing division; and The Gypsum division.