SHARES of Holcim Philippines Inc. grew by 4 percent week-on-week after news reports of a takeover offer from a rival firm.

A newspaper report on Tuesday claimed that Ramon Ang’s Eagle Cement Corp. had submitted a bid for Holcim Philippines. The firm denied this but its share price still jumped to as high as P10.20 from Monday’s P9.61 before closing P9.53 each. It grew further to P9.75 on Wednesday but dipped to P9.61 on Thursday and to P9.57 on Friday.