MILAN, July 29 (Reuters) – The passage Control of Italcementi HeidelbergCement galvanizes the entire sector Cement Business Plaza, otherwise rather weak. The integration, points out in a note ESN / Banca Akros, it will create the third largest refiner after LafargeHolcim and Anhui Conch, with perfect complementarity in geographic terms. One way, says the broker, to be more prepared to handle the challenges of glabalizzazione taking place in the sector. The group of the Pesenti family travels striding toward the tender offer price of EUR 10.60, representing a premium of more than 70% on the value of the stock in the last three months: around 11.15 salt of 48.6% to 9.8 euro with volumes almost 20 times the average for an entire session. The parent company Italmobiliare, which will be in the belly of EUR 670 million to 870 million cash, earn 30% to EUR 39.37. Buzzi Unicem rises by 8.16% to EUR 15.78 and Cementir + 6.8% to EUR 6.45 compared with an overall index of Milan down 0.4%. “After creating LafargeHolcim, They were expecting other operations of M & A in the global cement, “Jefferies said in a statement which emphasizes the potential synergies, the greater pricing power and greater return to shareholders that are generated in this type of deal. “The complementary nature of Italcementi and Heidelberg was widely known,” adds the broker is not said so surprised by the announcement last night and that judges “correct” the price paid by the Germans. The effects on the industry are positive, because “the decline in the number of competitors improves the outlook for prices,” says Jefferis that among the big names are expected to be the next to seek a partner is Cemex. Italy’s Buzzi, according to Goldman Sachs, the better positioned to benefit from possible movements of consolidation. The broker holds the title “conviction-buy”. On www.reuters.it other news Reuters in Italian. The top news also on www.twitter.com/reuters_italia More …
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