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4w ago

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.

FILE - Australian building supplies company James Hardie site in western Sydney, Australia, Sept. 21, 2004. (AP Photo/Mark Baker, File)
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Overview

  • 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.