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[January 2009]
CRH Says Pavestone Acquisition Will Not Proceed
CRH plc, the international building materials group, has just announced that it has agreed, together with Pavestone Group LP, to withdraw the Hart-Scott-Rodino (HSR) filing for CRH’s proposed acquisition of Pavestone.
These actions have been taken following the recent decision by the United States Federal Trade Commission (FTC) to authorise FTC staff to challenge the proposed acquisition. CRH and Pavestone regret that, as a result, the transaction will not now proceed.
Details of the proposed Pavestone acquisition were announced on 13 March 2008, with completion being subject to regulatory approvals including clearance under United States HSR legislation.
ENDS