Financial

Cemex Holdings Philippines Surges 75% Amidst Acquisition Rumors by DMCI Holdings

Cemex Holdings Philippines (CHP) has experienced a 75% surge in the last two trading days, following unconfirmed talks of a potential acquisition by DMCI Holdings

Photo by Nicholas Cappello / Unsplash

Cemex Holdings Philippines (CHP) has seen a significant surge in its stock price, rising by 75% over the last two trading days, amid speculations of a possible acquisition by DMCI Holdings, led by bilyonaryo Sid Consunji.

The surge in CHP's stock price is attributed to unconfirmed discussions indicating that DMC is in talks with the management of CHP for a potential buyout. Cemex had previously announced its intention to evaluate divestment opportunities in the Philippines. The surge in CHP's stock price comes in the wake of this announcement, indicating market optimism about the potential acquisition.

DMCI Holdings, a prominent construction firm and property developer in the Philippines, has expressed interest in taking over Cemex's local subsidiary. CHP's stock price has risen from 89 centavos on Friday to P1.56 on Tuesday, its highest level in three years. The surge in stock price and the unconfirmed acquisition talks have drawn attention to the cement industry in the Philippines, reflecting the potential for significant developments in the sector.

Source: Bilyonaryo Business News

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