Lafarge, Redland, & RMC in Ennemix shares saga

摘要

The first two weeks of July has witnessed a quite remarkable series of developments surrounding the share ownership of Ennemix PLC, a small East Midlands concrete and aggregates producer. The drama began in February this year, when Ennemix, headquartered at Bingham, near Nottingham, fended off a 6.4 million pounds. hostile bid from Redland PLC, one of the UK's leading building materials groups. Redland, which owns 41.1 percent of Ennemix shares, is apparently still considering its options, although it must wait 12 months from the date of its bid rejection. Meanwhile, on 4 July, Ennemix surrendered to a 8.8 million pounds. bid from French building materials giant Lafarge. Through its UK arm, Norbrit, Lafarge used its 27.7 percent stake earlier acquired from Ennemix chief executive, Vaughan McLeod as its launch pad. News of the 46p per share offer prompted a 13p surge in the Ennemix price to 48p.