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

0.00%

-1.69%

-0.89%

-0.74%

-0.48%

AZEK Company (The) (CPG Newco LLC) AZEK		0.00%
James Hardie Industries PLC Sponsored ADR JHX	20.04	-1.69%
Dow Jones Industrial Average DJI	47987.36	-0.89%
S&P 500 index SPX	6766.28	-0.74%
NASDAQ IXIC	22946.67	-0.48%

** 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

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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