Azek shares jump on $8.75B buyout
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Azek, a US artificial decking manufacturer, will be acquired by Australia's James Hardie Industries in an $8.75 billion deal. The transaction offers Azek shareholders $26.45 in cash and 1.034 James Hardie shares per share, representing a 37.4% premium. The combined company is expected to generate $350 million in additional earnings and $125 million in cost savings, with the merger anticipated to close in the second half of 2025.
March 24, 2025 | 3:15 pm
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Azek shares jumped 13.5% following the announcement of its acquisition by James Hardie, with shareholders set to receive a substantial premium and a mix of cash and stock compensation.
The merger announcement provides immediate value through a significant share price premium and potential future growth from combined company synergies. The 13.5% stock jump reflects market's positive reception of the deal.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100