Irish building materials company CRH is on the verge of making its largest ever acquisition, with a deal to buy Dallas-based construction firm Arcosa reportedly worth nearly $7 billion. According to Bloomberg, the negotiations between CRH and Arcosa are in their final stages, with a deal expected to be announced in the coming weeks. Arcosa has a market capitalisation of almost $7 billion, giving it a significant presence in the US construction market.
CRH, which is listed on the London Stock Exchange and the Irish Stock Exchange, has been expanding its global presence in recent years through a series of acquisitions. The takeover of Arcosa would be a significant coup for the company, giving it access to a new range of products and services, including aggregates, ready-mix concrete and construction materials.
The deal is expected to be funded through a combination of debt and equity, with CRH potentially issuing new shares to finance the acquisition. However, the exact details of the deal are not yet clear, and it is understood that the negotiations are still ongoing.
CRH's acquisition of Arcosa would be a significant development for the global construction industry, and would likely have implications for the company's competitors. It would also be a major coup for CRH, which has been looking to expand its global presence in recent years.