Overpriced down under?

Big doings down under. Australian regulators have apparently cleared Cemex's $11.7 billion hostile takeover bid for Rinker Group Ltd. According to reports, Australia's Foreign Investment Review Board, which assesses proposals by foreign companies to invest in the nation, has approved the lucrative bid. Cemex has offered $13 a share for Sydney-based Rinker, which it has targeted for its businesses in Florida, Arizona and Nevada. The deal would make it the world's largest cement maker. If Cemex gets Rinker, it would be the second major Florida-based aggregates producer to be acquired, following Vulcan's purchase of Florida Rock. Your comment?