Cemex Extends Rinker Offer Once More

Mexican cement giant Cemex has extended its bid deadline once more for building materials firm Rinker, from March 30 to April 27. This is the third time the company has extended the offer period. Cemex made a hostile takeover bid worth $11.7 billion last October for the Australian company, targeting Rinker’s valuable US business. However, Rinker’s board rejected Cemex’s offer saying it was “opportunistic” and “far too low”.