ASX-listed shares of James Hardie slide on plans to acquire US firm AZEK

ReutersMar 23, 2025 11:45 PM

Australia-listed shares of James Hardie Industries JHX.AX fall 10.3% to A$42, their lowest levels since Nov 7, 2023

Stock among top five losers in the benchmark ASX 200 index .AXJO

The fibre cement maker to acquire outdoor products manufacturer AZEK Company AZEK.N in a cash-and-stock deal valued at $8.75 billion

AZEK shareholders to receive $26.45 in cash and 1.0340 James Hardie shares to be listed on the New York Stock Exchange for each AZEK share, representing a 37.4% premium to AZEK's last close

Co intends to fund cash portion of transaction through debt financing and has secured a fully committed bridge financing facility

Stock down 15.1% YTD, lagging behind a 3.1% fall on AXJO index

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