Reports of takeover approach see Readymix shares soar by 40%

SHARES in building materials company Readymix soared over 40% yesterday, on news that the cement products specialist has received a takeover approach.

In a brief stock exchange announcement, the Dublin-listed company — which is predominantly owned by Mexican multinational group, Cemex — confirmed that it is in discussions “which may or may not lead to an offer for the entire issued share capital of the company”, following approaches “received from third parties”.

The company added that discussions are at an early stage and it is not clear if they may lead to an actual offer being made. It said a further announcement will be made “when appropriate”.