USA Headline news in Preston
Mystery rival bid exceeds CRH offer for Ash Grove Cement
DUBLIN (Reuters) – U.S. cement maker Ash Grove Cement Co (ASHG.PK) said it had received a takeover proposal valued at up to $3.8 billion, surpassing an earlier offer from Irish building materials firm CRH Plc (CRH.I). Ash Grove said the new bid, from an unnamed party, was valued at $3.7-$3.8 billion and was expected to result in a superior offer. Shares in CRH, which said last month it agreed to buy Ash Grove for a total consideration of $3.5 billion, were down 1.6 percent on the news at 30.96 euros. Ash Read More
Investors seek gems among unloved small-caps
NEW YORK (Reuters) – U.S. small-cap stocks, highly sensitive to the fate of President Donald Trump’s policy ambitions, may face more selling pressure, leaving small-cap investors scrambling for quality names and more resilient sectors. Small-caps, which are more reliant on U.S. policy and economic conditions than are large multinationals, have fallen recently on rising doubts that Trump can deliver on pro-business promises such as tax cuts. After outperforming in late 2016 after Trump’s election, the S&P 600 index of smaller companies .SPCY has fallen 1.4 percent in 2017 while the Read More