The firm is representing Rinker Group Limited, the Australian building materials company, in connection with an unsolicited bid for 100% for its outstanding shares (including American Depositary Shares) by CEMEX, S.A.B. de C.V., the Mexican cement producer. On April 9, 2007, Rinker and CEMEX agreed that the board of directors of Rinker will unanimously recommend CEMEX’s bid after CEMEX agreed to increase its offer price from US$13.00 to US$15.85 per share.
CEMEX’s offer will be, if successfully completed, Australia’s largest cash transaction and the largest cross-border acquisition by a Mexican company, and will create the world’s largest supplier of construction materials.
The Simpson Thacher team includes: Pete Ruegger, Alan Klein, Katie Sudol, Tim Turton, Felton Booker and Joshua Koenig (M&A); Marissa Wesely (Credit); Risë Norman (Capital Markets); Kevin Arquit, Peter Thomas, Michael Naughton, Kathryn McCarthy, Ketan Jhaveri, Reynelle Brown and Julissa Reynoso (Antitrust); Alvin Brown and Jarrett Hoffman (Benefits); Steve Todrys and Helena Wolin (Tax); Lori Lesser and Kirstie Howard (Intellectual Property); and Elisa Alcabes (Insurance and Litigation); as well as paralegal Michael Hoverman.