On May 2, the DOJ filed an amended complaint in U.S. District Court in Washington, D.C., naming Rinker Group Limited as a defendant in the DOJ antitrust lawsuit against Cemex S.A.B. de C.V because the Rinker Board of Directors approved Cemex’s cash tender offer for Rinker.
Cemex and Rinker were required to preserve the assets to be divested under the consent decree and to hold their assets separate until the divestitures were completed as stated in the filed amended hold separate stipulation and proposed order.
The Antitrust Division entered into a settlement agreement with Cemex regarding its proposed acquisition of Rinker in early April. The consent decree requires Cemex to divest 39 ready mix concrete, concrete block, and aggregate facilities in Arizona and Florida in the event Cemex succeeds in its takeover of Rinker. The decree also requires that Rinker become a party to the hold separate order in the event Cemex and Rinker reached an agreement with respect to the transaction.
Once Rinker approved Cemex’s cash tender offer, it was required to become a party to the Antitrust Division’s settlement agreement with Cemex.