Lafarge battle

US: The Board of Lafarge North America has advised shareholders to reject a US$ 75 per share takeover bid from its majority owner, Lafarge. The French materials company already owns 53.2% of Lafarge North America, and says its offer represents a premium of +16.7% on the closing share price on the day prior to the bid announcement. However, Lafarge North America says the offer, which expires on 3 April, undervalues the company.