Breedon said that over the past two months it had conducted a thorough review of the assets being made available in the disposal packages.聽Earlier this month it submitted conditional offers for a number of the assets but, having been rejected, it is now pulling out.
In a statement, Breedon said: 鈥淭he group has been unable to meet the value expectations of the sellers in respect of the majority of assets by number and value and has therefore withdrawn from the bidding process for these assets.鈥�
It added that it 鈥渞emains in discussion regarding the possible acquisition of certain of the other assets and will make a further announcement on this in due course鈥�.
Breedon has shown an appetite for acquisitions since its formation in 2010 and remains in discussion with a number of other potential sellers.
the Competition Commission has directed Tarmac and Lafarge聽to sell:
- a cement plant in Hope, Derbyshire as well as the nearby Dowlow quarry and three linked rail depots
- a substantial network of readymix (RMX) plants, representing well over half of the proposed joint venture鈥檚 RMX capacity
- six aggregate quarries as well as Tarmac鈥檚 share of two quarries owned through its Midlands Quarry Products (MQP) joint venture with Hanson - and one rail depot, and
- two asphalt plants as well as Tarmac鈥檚 share of five plants owned through MQP.
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