Beverly Hills 12/19/2009 5:45:41 AM
News / Business

Brazil’s Companhia Siderúrgica Nacional Bids for Portuguese Cement Firm

Finance World News Update by EQUITIES Magazine

Brazil’s Companhia Siderúrgica Nacional released an unsolicited 3.86 billion euro ($5.6 billion) bid for Cimentos de Portugal. Together, the companies would form one of the world’s biggest cement firms with an annual production capacity of 36 million metric tons.

 

CSN said the deal would diversify its production beyond leading positions in steel, mining and logistics.

 

While Cimpor stock jumped 16 percent to $9.05, stocks of CSN dropped .19 percent to $31.79.

About EQUITIES:

 

Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.

 

Sign up for a free one-year subscription to EQUITIES Magazine