UPDATE 1-Holcim in C$630-mln bid for St.Lawrence Cement

ZURICH, May 14 (Reuters) - Swiss-based cement group Holcim (HOLN.VX: Quote, Profile, Research, Stock Buzz) said on Monday St. Lawrence Cement group STa.TO had recommended an improved C$40.25 per share cash offer for the Canadian company worth a total of 630 million Canadian dollars (US$567 million).

Holcim, the world's second-largest cement maker which is in the middle of an acquisition campaign, said in February it would launch a buyout bid for the remaining shares in St. Lawrence Cement it did not own, saying at the time it would pay C$36.50 per share in cash.

The move comes as the industry consolidates with recent takeovers by Holcim in India and bigger rival Lafarge's (LAFP.PA: Quote, Profile, Research, Stock Buzz) full acquisition of its North American subsidiary.

Holcim said its revised offer represents a 33 percent premium over a weighted average trading price.

Holcim already owns 44 percent of class A subordinate voting shares and 100 percent of class B multiple voting shares, representing approximately 79 percent of the company's total votes.

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