Deals
CSR Agrees to $3 Billion Takeover by French Rival Saint-Gobain
- The companies entered into definitive agreement on takeover
- Saint-Gobain offers to buy all CSR shares at A$9 apiece
The Cie. de Saint-Gobain headquarters in Paris.
Photographer: Benjamin Girette/BloombergThis article is for subscribers only.
Australian building materials maker CSR Ltd. has agreed to a A$4.5 billion ($3 billion) takeover bid from France’s Cie. de Saint-Gobain.
The companies entered into a definitive agreement in which Saint-Gobain offers to acquire all CSR shares at A$9 each, according to a statement on Monday. The offer represents a 33% premium to CSR’s closing price on Feb. 20, the day before Bloomberg News reported Saint-Gobain was exploring a potential acquisition of the Australian rival.