Holcim Ltd announced it will make a C$36.50  per share cash offer for all outstanding shares of Canada’s St Lawrence Cement Group Inc (SLC) it does not already own, valuing the total minority share capital at C$571m.  
 
The offer applies for all outstanding SLC class A subordinate voting shares as well as class 1 special shares, Holcim said.  
 
A formal offer has not yet been made to shareholders, it added.  
 
The success of the offer will be conditional on more than 50 pct of class A subordinate voting shares and 66.66 pct of outstanding class 1 special shares being tendered, the company said.  
 
Holcim currently owns 44 pct of SLC’s class A subordinate voting shares and 100 pct of SLC’s class B multiple voting shares, representing approximately 79 per cent of SLC’s total votes.  
 
The proposed acquisition would allow Holcim to further embed SLC into the Holcim Group both commercially and financially.