HeidelbergCement AG, Germany’s largest cement maker, on Tuesday, agreed to buy UK-based Hanson Plc for about £8bn (US$15.8bn) to create the world’s second-largest firm in construction materials. The offer would be the biggest takeover in the sector.
HeidelbergCement will pay £11 a share in cash for London-based Hanson, the two companies said in a regulatory filing. Including debt, the deal is valued at £9.5bn.
It represents a small premium to Hanson’s closing share price of £10.57 on Monday.  It is 29 per cent more than closing price on May 2, last trading day before HeidelbergCement first said it might make a bid. The deal represents multiple of about 12 times Hanson’s EBITDA.