Building materials supplier Owens Corning to buy Masonite in $3.9 bln deal (updated)
09/02/2024 12:19
(Adds shares, details of the deal)
Feb 9 (Reuters) - Building materials supplier Owens
Corning OC.N will buy door maker Masonite International
DOOR.N in a deal valued at $3.9 billion, Owens said on Friday.
It will acquire all outstanding shares of Masonite for $133
per share in cash, representing a nearly 38.3% premium to
Masonite's last closing price.
Shares of Masonite surged 33% in premarket trading.
Morgan Stanley is the lead financial advisor to Owens
Corning and Goldman Sachs advised Masonite.
(Reporting by Kannaki Deka in Bengaluru; Editing by Arun
Koyyur)
((Kannaki.Deka@thomsonreuters.com;))