Cimpor's fate hangs in the balance

摘要

An ongoing scrum has broken out over the fate of Portugal's Cimpor-Cimentos de Portugal the multinational cement producer. On December 18, 2009, Brazil s steel producing group Companhia Siderurgica Nacional :CSN; launched a takeove bid for 100% of Cimpor at a price of Euro5.75 a share, 11% lower than its pre-bid value. Investors immediately drove Cimpor shares 14% above the bid, anticipating a better price.