Cement chief suicide sparks bid speculation

Speculation is rising about the future for Heidleberg Cement following last week’s suicide of majority shareholder Adolf Merkle.
Shares in the German company – parent of Hanson and Castle Cement – rose 4% last Friday on market speculation that the Swiss group Holcim may consider a bid for some of the assets.

Neither company had any official comment to make, other than a spokesman for Holcim who said: “We are always evaluating opportunities if they create value”, although he added, however, that it is difficult to finance buys in the current economic climate.

Holcim own Hanson rival Aggregate Industries.