CSR (CSR AU): Saint Gobain Firms $9/Share Bid
On the 21st Feb, Saint-Gobain (SGO FP) made an indicative Offer to CSR Ltd (CSR AU) shareholders of A$9/share by way of a Scheme, a 34% premium to last close.
Saint-Gobain and CSR have now entered into a definitive agreement, also at $9/share. The business combination has been unanimously approved by the boards of both companies.
Conditions include CSR's shareholder approval and FIRB signing off. No specific mention of ACCC. The transaction is expected to close in the second half of this year.
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