The mega-merger between cement makers Holcim and Lafarge is nearly complete after Holcim’s main shareholders approved issuing new shares to raise funds for the deal. Holcim shareholders on 8 May backed the company’s plan to raise capital for the two companies to close the merger in July. Some of Holcim’s main shareholders had brought the merger to a halt in March because they were dissatisfied with its terms and sought more advantageous ones. The two companies then struck a deal that reorganized LafargeHolcim’s structure and modified the share exchange ratio. The new exchange ratio gives Holcim shareholders a better deal compared with the one-for-one ratio as originally agreed.
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