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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Boral Limited | ASX:BLD | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.04 | -0.69% | 5.77 | 5.76 | 5.80 | 5.83 | 5.75 | 5.83 | 1,127,836 | 08:01:09 |
From May 2019 to May 2024
SYDNEY—Building materials firm Boral Ltd. said it would acquire Headwaters Inc. as the Australia-listed firm moves to expand its presence in the U.S.
On Monday, Boral said it has penned a binding agreement to acquire the building products manufacturer, one of the largest sellers of fly ash in the U.S., for US$24.25 a share in cash, equal to an enterprise value of US$2.6 billion. The offer is a 34% premium to Headwaters' one-month volume weighted average price.
The deal, unanimously recommended by Headwaters directors, is expected to close in mid-2017.
Boral said the deal would be partially financed by a 450 million Australian dollar (US$330 million) institutional placement and a A$1.6 billion accelerated renounceable entitlement offer. The company will also use some debt and existing cash.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
November 20, 2016 19:25 ET (00:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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