WASHINGTON — Holcim and Lafarge will divest plants, terminals and an Iowa quarry to win US regulatory approval for a merger between the European cement makers that will form the industry’s biggest producer.
Regulators said the moves were needed to protect consumers from the deal — which will create a company worth more than $46bn.
Competition would be substantially lessened in 12 markets, including Detroit, Boston and New Orleans, the Federal Trade Commissionsaid. The agreement gives the agency the authority to appoint a monitor to oversee the sale of assets, which must be held separately pending final approval after a 30-day public comment period.
Lafarge will give up facilities in Iowa, Minnesota, Wisconsin, Tennessee and Louisiana.