Cornerstone Building Brands to go private in $5.8 bln deal (updated)

Core Natural Resources

07/03/2022 14:18

(Adds deal details, share price, market value)
    March 7 (Reuters) - Cornerstone Building Brands  CNR.N , a
manufacturer of exterior building products, said on Monday it
has agreed to be taken private by shareholder Clayton, Dubilier
& Rice (CD&R) in a $5.8 billion deal, including debt.
    The private equity firm, which owns about 49% of
Cornerstone's common stock, has offered the target's
shareholders $24.65 in cash for each share held.
    The offer represents an about 16% premium to the closing
price of Cornerstone's shares on Friday. Cornerstone's shares
rose more than 13% in premarket trading.
    The deal is expected to close in the second or third quarter
of 2022. 

 (Reporting by Aishwarya Nair and Kannaki Deka in Bengaluru;
Editing by Sriraj Kalluvila)
 ((Aishwarya.Nair@thomsonreuters.com; +91-8067494421;))