Readymix shares fall as sale deal off

SHARES in Readymix — the Dublin-headquartered cement product and building materials provider — fell by 10% in early trading yesterday on the back of the company announcing that a potential sale of the business is now unlikely to materialise.

The company said last October it had received expressions of interest from a number of third parties which could lead to a takeover offer for the business. However, in an update on that particular issue, Readymix’s management said yesterday that “no firm and fully financed offer has been received” and “no such offer is likely to be received in the short-term.”

“As such”, the company added, “discussions with all third parties have been terminated”.