Wall cladding and plasterboard group James Hardie will acquire outdoor decking and railings company Azek in a $14 billion cash and scrip deal, which chief executive Aaron Erter said would supercharge growth, despite investor concerns the deal was overvalued.
Shares in James Hardie slumped almost 15 per cent to $40 following the deal’s announcement.
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
