The board of building products group CSR has agreed to a $4.3 billion buyout bid from French group Saint-Gobain, paving the way for the bidder to “explore its options” around CSR’s 25 per cent stake in the Tomago aluminium smelter in NSW.
Saint-Gobain said in a statement that the CSR board had “unanimously recommended” that its shareholders vote in favour of the transaction struck at $9 per share. The companies signed a scheme implementation deed.
Loading...
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
