Cemex Bid Earns Australian Regulator Approval

Mexican cement maker Cemex has received approval from Australian regulators for its hostile takeover bid for local building materials firm Rinker, according to Bloomberg. Cemex’s $11.7 billion offer last November was rejected by the company as “opportunistic” and “far too low”. Cemex is still awaiting approval from US regulators. The Mexican firm may have to sell some of its US assets to comply with US anti-trust requirements.