8-K

CRH PUBLIC LTD CO 8-K Report (Oct 23, 2017)

Filed October 23, 2017For Securities:CRH

Summary

CRH Public Limited Company (CRH) has announced a significant development regarding its proposed acquisition of Ash Grove Cement Company. Following an earlier competing acquisition proposal that extended the approval timeline, CRH has now received the necessary shareholder approval from Ash Grove for the transaction. This positive development brings CRH closer to completing the US$3.5 billion acquisition, which is expected to significantly bolster its position in the US cement market. The acquisition remains subject to regulatory approval, with an expected closing in late 2017 or early 2018. Investors should monitor the regulatory approval process and anticipate further details to be provided during CRH's Trading Update scheduled for November 21, 2017. This acquisition represents a substantial strategic move for CRH, underscoring its commitment to growth and expansion in key markets.

Key Highlights

  • 1CRH plc has received shareholder approval from Ash Grove Cement Company for the proposed acquisition.
  • 2The total consideration for the acquisition remains US$3.5 billion.
  • 3An unsolicited competing acquisition proposal had previously extended the shareholder approval deadline.
  • 4The transaction is still contingent on receiving regulatory approval.
  • 5The expected closing of the acquisition is anticipated for late 2017 or early 2018.
  • 6CRH will provide further details in its Trading Update on November 21, 2017.

Frequently Asked Questions

This filing provides an update on CRH plc's proposed acquisition of Ash Grove Cement Company, specifically announcing that Ash Grove shareholders have approved the transaction.

No, the acquisition is not yet finalized. While Ash Grove shareholders have approved the deal, it is still subject to regulatory approval. The transaction is expected to close in late 2017 or early 2018.

The total consideration for the acquisition of Ash Grove Cement Company is US$3.5 billion.

Yes, Ash Grove received an unsolicited, preliminary, non-binding competing acquisition proposal, which led them to extend the deadline for obtaining shareholder approval. However, CRH's acquisition proposal ultimately received the necessary shareholder approval.