Sacyr Vallehermoso SA, Spain's second-biggest builder by market value, offered 6.5 billion euros ($8.8 billion) in stock for the two-thirds of Paris-based rival Eiffage SA it doesn't already own to gain access to French construction and toll-road markets. (The bid comes a day after Eiffage blocked Sacyr from naming directors to the board of France's third-biggest construction company.)
Seems to be a matter just of pride, honour and market share,
not synergy, organic growth and mutual upliftment.
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