Lafarge, Holcim to name Lafont as co-chairman of merged company - WSJ
(Reuters) - Lafarge SA and Holcim Ltd have agreed to name Lafarge Chief Executive Officer Bruno Lafont the co-chairman of the proposed combined company, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
The companies have agreed to new terms over the $44 billion merger (29 billion pounds)deal that would create the world's biggest cement firm, including agreeing to a new share-swap ratio for the deal, the Journal said.(http://on.wsj.com/1C2hD6a)
Lafont, who was proposed to be chief executive of the new company, became unacceptable for Holcim over concerns about his management style and financial track record, Reuters reported on Thursday citing sources.
In March, Reuters reported that Lafont could be named co-chairman of the future company, alongside Wolfgang Reitzle, the current chairman of Holcim.
Representatives of Lafarge and Holcim were not immediately available for comment outside regular business hours.
(Reporting by Ismail Shakil in Bengaluru; Editing by Lisa Shumaker)
