Friday March 27, 12:09 PM
Glance-STOCKS NEWS EUROPE-Wienerberger rises on takeover talk
STOCKS NEWS Reuters Results diary
Stocks on the move Real (Frankfurt: BJU.F - news) -time Equity News
11:52GMT 27March2009-Wienerberger shares rise on takeover talk
--------------------------------------------------------------
Shares in Austrian brickmaker Wienerberger rise 12.5 percent to
6.57 euros, outperforming the DJ Stoxx Construction and Materials index
which is down 0.2 percent, on takeover speculation.
'On the one hand, we are seeing short covering and on the other hand
takeover fantasies,' says a Vienna-based trader.
The trader adds the takeover speculation concerns Irish group CRH (Dublin: CRG.IR - news) , one of the world's biggest suppliers to builders, which last week
raised 1.28 billion euros in a rights issue, giving it ammunition for
acquisition opportunities created by a squeeze on rivals.
Wienerberger, the world's largest brickmaker, is one of the few Austrian
companies without a large strategic shareholder to shield it from an approach,
making it a permanent subject of takeover speculation.
For more double click on
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
