French building giant lobs $4.3b bid for CSR
Kanika SoodCo-editor, Street Talk
French building materials giant Saint-Gobain has confirmed it is seeking to buy ASX-listed CSR Limited at $9 a share, in a deal that values the Australian company at $4.3 billion.
Saint-Gobain’s offer is non-binding and indicative at this stage, but it has succeeded in securing due diligence from CSR’s board with the $9 a share offer. The French has structured the proposal as a scheme of arrangement.
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