Deals
Westlake Buys Boral’s Building Products Arm for $2.2 Billion
- Transaction is expected to close in second half of this year
- Acquisition could bring in about $35 million in cost synergies
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Westlake Chemical Corp. has agreed to acquire Australian materials firm Boral Ltd.’s North American building products business for $2.15 billion in cash.
The boards of the companies have unanimously approved the transaction, which is expected to complete in the second half of this year, according to a statement on Sunday. Shares in Boral rose as much as 4.1% to the highest level since October 2018 in Sydney.