CRH rises on private equity rumours

SHARES in CRH surged as much as 5% yesterday as speculation mounted that the building materials giant could be a takeover target.

The shares, which have already gained about a fifth since the beginning of the year, have been heavily traded in recent weeks on rumours that private equity firms could now have Ireland’s biggest company in their sights.

A takeover of CRH would be the largest takeover in Europe by a private equity group, topping the bid by Kravis Kohlberg Roberts for Alliance Boots.