Brief: PGT Innovations Proposed Deal For Enterprise Value Of About $3.1 Bln

PGT Innovations

17/01/2024 14:06

Jan 17 (Reuters) - PGT Innovations Inc  PGTI.N :
    * MITER BRANDS TO ACQUIRE PGT INNOVATIONS FOR $42.00 PER
SHARE IN
CASH
    * PGT INNOVATIONS INC - PROPOSED DEAL FOR ENTERPRISE VALUE
OF
APPROXIMATELY $3.1 BILLION
    * PGT INNOVATIONS INC - UPON COMPLETION OF TRANSACTION, PGTI
WILL
BECOME A PRIVATELY HELD SUBSIDIARY OF MITER
    * PGT INNOVATIONS INC - MITER'S TRANSACTION WITH PGTI IS
EXPECTED
TO CLOSE BY MID-YEAR 2024
    * PGT INNOVATIONS INC - MERGER AGREEMENT HAS BEEN
UNANIMOUSLY
APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES
    * PGT INNOVATIONS INC - PGTI ALSO ANNOUNCED THAT IT HAS
TERMINATED
ITS MERGER AGREEMENT WITH MASONITE INTERNATIONAL CORP.
    * PGT INNOVATIONS INC - DEAL TO BE FINANCED IN PART BY AN
EQUITY
INVESTMENT FROM KOCH EQUITY DEVELOPMENT LLC, & ACQUISITION ARM
OF KOCH INDUSTRIES

Source text for Eikon:  ID:nBw2Ff7DZa 
Further company coverage:  PGTI.N 

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