French group Saint-Gobain wins over CSR board in $4.3b takeover
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.
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