Masonite International (DOOR) has released an update to notify the public and investors about an entry into a material definitive agreement.
Masonite International Corporation is set to become a wholly owned subsidiary of Owens Corning after an arrangement agreement was signed for Owens Corning’s subsidiary to acquire all outstanding Masonite shares at $133 each. The deal, to be funded by cash and debt financing from Morgan Stanley, includes provisions for Masonite’s equity awards and sets forth conditions such as shareholder approval and regulatory clearances. Masonite has agreed not to solicit other acquisition proposals, with termination fees applicable under certain conditions. This acquisition represents a significant consolidation in the building materials industry, offering potential growth and value creation for stakeholders.
For further insights into DOOR stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
