The merger between Lafarge and Holcim is nearing completion with the share swap which will facilitate the deal being declared a success. According to the two companies, this has seen equity representing more than 87% of Lafarge’s capital and more than 81% of its voting rights being tendered to be exchanged for Holcim stock.
This amounts to more than 252 million shares in Lafarge, and the two companies said its threshold for success for the offer was much lower – just two thirds of Lafarge’s voting rights or capital.
“The result reflects the confidence of shareholders in the future company. Both companies are very pleased with this positive outcome as it paves the way towards completion of the merger,” they said in a statement.
Final results of the tender offer are due to be published on July 9.