Turkey's Akcansa surges after minimum tender offer price set
BUZZ-Turkey's Akcansa surges after minimum tender offer price set ** Shares in Akcansa AKCNS.IS rise around 10% after the Turkey-based cement and concrete maker announced on Friday Heidelberg Materials HEIG.DE set a minimum mandatory tender offer price of 260.25 lira ($5.58) per Akcansa share
** The offer price represents a 38.2% premium to Akcansa's closing price of 188.2 lira on Friday
** The company's parent Sabanci Holding SAHOL.IS had announced on June 18 the sale of Akcansa shares to Heidelberg Materials for $427.9 mln
** After the deal, Sabancı Holding no longer holds any stake in Akcansa
** Brokerage Vakif Yatirim says the move is positive for Akcansa's shares
** Shares in Akcansa hit the 10% ceiling on Turkey's Borsa Istanbul stock exchange .XU100, while former parent Sabanci's shares are trading up around 1%
($1 = 46.6378 liras)
(Reporting by Arda Dipova)
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Turkey's Akcansa surges after minimum tender offer price set
Brief: Akcansa Cimento Says Mandatory Tender Offer In Akcansa Set With Minimum Price Of 260.25 Lira