Readymix to vote on €27m takeover

Readymix shareholders will vote on the proposed €27.4m takeover of the company on Apr 5.

Late last month the company’s independent committee — comprising chairman Adrian Auer and Donal O’Connor — announced that they had reached agreement on the terms of the approach, first made in January, from Readymix Investments; the wholly-owned indirect subsidiary of Cemex Espana.

At the time of that agreement, Mr Auer said that the offer equating to 25c per share “creates an opportunity for shareholders to receive value for their investment in Readymix, having regard to the present financial condition of the company, the prevailing economic circumstances and the highly uncertain outlook for the housing and construction sectors”.