Holcim merger gains US approval

Holcim and Lafarge will divest plants, terminals and an Iowa quarry to win US regulatory approval for a merger between the European cement makers that will form the industry’s biggest producer.

US regulators said the moves are needed to protect consumers from the deal, which will create a company valued at more than $46bn (€41bn).

US competition would have been substantially lessened in 12 markets, including Detroit, Boston and New Orleans, the US Federal Trade Commission said in a statement.