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Billionaire Roofers Load Up on Debt for W.R. Grace Takeover

  • Standard Industries plans to borrow 85% of acquisition costs
  • Company received bank commitments for as much as $3.5 billion

The billionaire owners behind Standard Industries Holdings Inc. are no strangers to debt-funded takeovers. But their latest acquisition is taking that playbook to a whole new level.

The industrial group controlled by the families of the late corporate raider Samuel Heyman and co-CEOs David Millstone and David Winter, plans to rely on borrowed money to fund as much as 85% of its purchase of specialty-chemicals company W.R. Grace & Co., including most of its $3.5 billion equity check, according to Bloomberg calculations based on public filings.