May 16 2007
The Board of Wienerberger AG (Vienna, Austria) says it is pleased to note that clearance for the proposed acquisition of Baggeridge Brick PLC by Wienerberger has been granted by the UK's Competition Commission.
"Following the positive provisional findings of the British Competition Commission on April 4, we welcome today's affirmation and clearance. The acquisition of Baggeridge ideally complements the existing business operations in the UK and Ireland. As a result, we will not only be in a position to considerably strengthen our number three position in the largest European market for facing bricks, but also to enlarge our product portfolio throughout the United Kingdom," said Wolfgang Reithofer, CEO of Wienerberger AG, in commenting on the final findings.
Wienerberger confirmed that the terms of the pre-condition were now satisfied. Wienerberger intends to post the offer document to Baggeridge shareholders shortly.