James Hardie to Acquire AZEK in $8.75 Billion Deal

The boards of both companies have approved the acquisition, which still requires AZEK shareholder approval and faces legal scrutiny over fairness.

The acquisition combines two leaders in outdoor building products, including siding, decking, and trim, under one company.
AZEK shareholders will receive $26.45 in cash and 1.034 James Hardie shares per AZEK share, valuing the deal at $56.88 per share, a 37% premium over AZEK's Friday closing price.
James Hardie shareholders will own 74% of the combined company, with AZEK shareholders owning 26%.
AZEK's stock surged over 23% following the announcement, while James Hardie's shares declined by 18%.
The deal is expected to close in the second half of 2025, pending AZEK shareholder approval and the resolution of legal investigations into its fairness.