Turkey's Akcansa surges after minimum tender offer price set

Heidelberg Materials AG

29/06/2026 09:31

** 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)
 ((Arda.dipova@thomsonreuters.com))