Investors express concerns on ASX rules over proposed James Hardie-Azek merger

Azek

17/04/2025 06:46

April 17 (Reuters) - A group of investors in Australian publicly-listed companies called for a review of the listing rules, saying the proposed $8.75 billion acquisition of Azek AZEK.N by James Hardie JHX.AX would negatively impact shareholders' interests.

The investors wrote to the Australian Stock Exchange (ASX) on Wednesday, saying James Hardie's acquisition of Azek would result in a significant dilution of interests for its existing shareholders and "irreversibly change their rights" without any vote.

ASX and James Hardie did not immediately respond to a Reuters request for comment.

 (Reporting by Adwitiya Srivastava in Bengaluru; Editing by Mrigank Dhaniwala)

 ((Adwitiya.Srivastava@thomsonreuters.com;))