San Miguel Corporation is set to execute one of the largest merger deals out of the Philippines in recent years after the conglomerate agreed to buy a controlling stake in the country’s largest cement manufacturer in a $2.15 billion deal.
Shares of Holcim Philippines soared 6.1% on Thursday after San Miguel said that it will purchase an 85.73% interest from its Swiss parent LafargeHolcim. As per Philippines listing regulations, the conglomerate will need to make a voluntary offer for the remaining 14.27% stake held by minority shareholders.
San Miguel did not reveal the offer price per share for the 5.53 billion Holcim Philippines shares it plans...
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