Three Australian buyouts worth $2.35 billion emerge in end-of-year deal rush

Australian building products group Adbri Ltd and pension firm Link Group were among three takeover targets facing bids worth A$3.5 billion ($2.34 billion) made on Monday in a year-end rush of deals involving listed companies. Adbri shares jumped 31% after it said it was in exclusive talks with international building materials group CRH and major shareholder Barro Group for a A$2.1 billion takeover offer. Barro, a family-owned private Australian group, owns 43% of Adbri, and CRH, which is London and U.S. listed, has a 4.6% interest in the takeover target through a cash-settled derivative, they said in a statement.