4 November 2006
Rinker update
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It's been quite a year for Australia's corporate community, with takeover and attempted takeover activity grabbing headlines almost every week.
The first half of the year was very much about the retail sector, culminating with the attempt by US private equity firm KKR to get hold of Coles Myer via a leveraged buy-out.
But just as that action appears to have run out of puff, we find another Australian corporate giant is being stalked by a foreign raider.
The company in question is Rinker. Now it may not be a household name but you might be surprised to know its sharemarket value is almost the equal of Coles.
And the raider in question is not bothering with borrowing for this deal.
Cemex, the world's third largest cement-maker, has offered $17 a share as part of a $16.8 billion takeover plan, the largest cash offering in Australian corporate history.
Guests
Brett Clegg
Associate Editor, Australian Financial Review
Further Information
Presenter
Geraldine Doogue
Producer
Scott Wales
