Australia's CSR hits near 18-year high on takeover offer from Saint-Gobain

CSR

22/02/2024 02:18

** Shares of CSR Ltd  CSR.AX  extend gains to rise as much
as 6.9% to A$8.500, their highest since March 31, 2006
    ** The building products maker receives a A$4.30 bln ($2.82
bln) non-binding takeover offer from France's Saint-Gobain
 SGOB.PA  
    ** The A$9-per-share offer for CSR represents a 13.2%
premium to its last closing price
    ** Co currently providing Saint-Gobain with confirmatory due
diligence access to progress to a binding deal
    ** CSR shares had soared 17.4% on Wednesday before trading
was paused following a media report of the takeover offer
    ** Trading volumes 4.9 times the 30-day avg of 1.7 mln
shares
    ** As of last close, CSR stock up 20.5% YTD

    ($1 = 1.5260 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))