Australia's Adbri receives $1.4 billion offer from Barro Group and CRH (updated)

Adbri

17/12/2023 22:58

(Adds more details on deal from paragraph 2)
       Dec 18 (Reuters) - 
    Australian construction materials firm Adbri  ABC.AX  said
on Monday it is in exclusive talks with CRH  CRH.N  and the
Barro Group Pty Ltd for the two companies to buy shares that
Barro does not already own, in a deal worth about A$2.1 billion
($1.41 billion).
    CRH, a building materials solutions provider, and Barro, a
concrete supplier, have offered A$3.20 per share - a 41% premium
to the company's last closing price on Dec. 15. 
        The deal is subject to various court and regulatory
approvals, including from Foreign Investment Review Board. 
  
        Both CRH and the Barro Group did not immediately respond
to Reuters' requests for comment.  
  

($1 = 1.4937 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru; Editing by Sandra
Maler and Deepa Babington)
 ((Archishma.Iyer@thomsonreuters.com;))