Building products group James Hardie will shift its primary listing to the New York Stock Exchange after shareholders in US outdoor decking company Azek approved a $14 billion buyout which infuriated many Australian shareholders.
Azek shareholders gave the green light to the cash and scrip deal at a meeting held on Friday (Saturday AEST). Shareholders in James Hardie were denied a vote after the ASX granted the company a waiver in a controversial move months ago.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
