Heidelberg Materials Continues Expansion in North America -- Market Talk

Dow Jones
2024/11/28

0950 GMT - Heidelberg Materials' planned acquisition of privately-owned Giant Cement in the U.S. would further bulk up the company's presence in North America, Goodbody analyst Kenneth Rumph says in a research note. The move comes after the German cement company earlier this year vowing to take steps to address the undervaluation of its U.S. activities compared with local peers, and follows three smaller U.S. acquisitions so far this year, the analyst says. However, purchasing the company for $600 million would increase its debt by a low teens percentage, he adds. Heidelberg Materials trades 1.1% higher at 119.05 euros. (pierre.bertrand@wsj.com)

 

(END) Dow Jones Newswires

November 28, 2024 04:50 ET (09:50 GMT)

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