Titan Group agrees to launch MTO for 100% of Alexandria Cement

M&A WATCH- Greek cement company Titan Group will launch a mandatory tender offer (MTO) for 100% of Alexandria Portland Cement “within days,” Alexandria Cement said in a bourse disclosure (pdf). Titan had acquired Alexandria Cement’s parent company, Alexandria Development, which made it an indirect majority owner through a related party and therefore triggered an MTO requirement. The Financial Regulatory Authority had ordered the Greek company last month to present an MTO.