Deals
Holcim, Lafarge Rescue Cement Merger From Brink of Collapse
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Holcim Ltd. and Lafarge SA brought their planned merger back from the brink of collapse, agreeing on new terms and management changes to pave the way for the creation of the world’s biggest cement company.
The companies failed to answer a contentious question -- who will lead the combined entity, which will value France’s Lafarge at 28.2 billion euros ($30.2 billion). Lafarge chief Bruno Lafont, who had been designated as chief executive officer of the merged company, will now become co-chairman, after Holcim managers said in the past week they didn’t want him as CEO.