Australia’s Rinker may seek to buy Texas Industries’ construction unit
Rinker Corp Ltd may seek to buy Texas Industries Inc’s construction materials business when the US group splits its construction materials and steel-making operations on Friday, The Sydney Morning Herald reported, without citing sources.
It said Rinker Corp has made no secret of its desire to make a big US acquisition and has cited Texas and California as two states where it wants to expand its US operations.
TXI is the largest cement producer in Texas and a big player in California as well as having operations in Oklahoma, Arkansas and Louisiana.
The newspaper said Goldman Sachs JBWere wrote in a research report that the TXI assets would be "a good strategic fit" for Rinker but does not consider TXI as a takeover target.