Cornerstone Building Brands Agrees To Be Acquired By CD&R For $5.8B

  • Cornerstone Building Brands Inc CNR has agreed to be acquired by Clayton, Dubilier & Rice (CD&R) affiliates in an all-cash transaction with an enterprise value of ~$5.8 billion, including debt.
  • Cornerstone Building Brands' shareholders will receive $24.65 in cash per share, representing a 16% premium to the closing price as of March 4, 2022. It represents a 75% premium to the closing price as of February 4, 2022, the last trading day before speculation in the market regarding a potential transaction.
  • RelatedCornerstone Building Brands Stock Soars After CD&R Bids For The Remaining Stake
  • CD&R beneficial owns approximately 49% of the company's outstanding shares of common stock.
  • This transaction will result in Cornerstone Building Brands becoming a private company and is expected to close in the second or third quarter of 2022.
  • Price Action: CNR shares are trading higher by 13.7% at $24.23 during the premarket session on Monday.
Market News and Data brought to you by Benzinga APIs
Posted In: M&ANewsMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!