Lafarge, Holcim approve merger plan

April 8, 2014 9:03 am

France’s Lafarge and Switzerland’s Holcim, the world’s two largest cement makers, have agreed the terms of a merger that would create a company with a stock market value of around $55bn, Reuters has reported, citing a source close to the situation. The two groups have already begun to address possible competition concerns that would arise, the source added. The two companies had already issued statements on Friday announcing they were in advanced talks to merge, a deal which would help them slash costs, trim debt and better cope with the soaring energy prices and weaker demand that have hurt the sector since the 2008 economic crisis.