Brief: CSR Confirms It Has Received Indicative Proposal From Saint-Gobain

CSR

21/02/2024 20:34

Feb 22 (Reuters) - CSR Ltd  CSR.AX :
    * RESPONSE TO MEDIA SPECULATION
    * CONFIRMS THAT IT HAS RECEIVED A CONDITIONAL, NON-BINDING,
INDICATIVE PROPOSAL FROM SAINT- GOBAIN TO ACQUIRE 100% OF SHARES
IN CSR
    * CONFIRMS THAT IT HAS RECEIVED A CONDITIONAL, NON-BINDING,
INDICATIVE PROPOSAL FROM SAINT- GOBAIN
    * PROPOSAL FROM SAINT- GOBAIN TO ACQUIRE 100% OF SHARES IN
CSR BY
WAY OF SCHEME OF ARRANGEMENT FOR A PRICE OF $A9.00 CASH PER
SHARE
    * UNDER PROPOSAL, CSR WOULD BE ENTITLED TO PAY A FINAL
DIVIDEND OF
UP TO A$0.25 PER SHARE FOR ITS FINANCIAL YEAR ENDING 31 MARCH
    * PROPOSAL FOLLOWS AN EARLIER INDICATIVE OFFER AND A PERIOD
OF
NEGOTIATION, WHICH INCLUDED PROVISION OF VALUE IMPACTING DUE
DILIGENCE
    * CURRENTLY PROVIDING SAINT-GOBAIN WITH CONFIRMATORY DUE
DILIGENCE
ACCESS TO PROGRESS TO A BINDING TRANSACTION
    * CSR BOARD NOTES THAT THERE IS NO CERTAINTY THAT PROPOSAL
WILL
RESULT IN A BINDING OFFER FOR CSR
    * CSR SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION IN
RELATION TO
PROPOSAL

Source text for Eikon:  ID:nASX4nlYy 
Further company coverage:  CSR.AX 

 ((Reuters.Briefs@thomsonreuters.com;))