Cemex's $US14.25 billion ($16.85 billion) takeover of Rinker Group passed a critical hurdle yesterday, the Mexican company revealing it had acquired a majority of its target's shares.

Cemex made rapid progress with Rinker shareholders in recent days and said it had acquired a 50.3 per cent stake in the Australian building materials group. The milestone triggered the removal of the sole remaining condition for the bid, under which Cemex required 90 per cent, and means control of Rinker will pass to Cemex regardless of whether it secures outright ownership.