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RMC takeover nearly complete

MATERIALS

THE £2.3 billion takeover of concrete producer RMC by Mexican outfit Cemex will be completed this month.

The move is currently awaiting the all clear from competition authorities in the United States but insiders are confident the massive deal will be signed and sealed by the end of February.

Although no specific date has been set for the US authorities to announce the findings of its investigation into the merger, it is expected to sail through due to the lack of overlap between the two businesses.

The deal should have been completed in January but was delayed by the Thanksgiving and Christmas holidays.