Boral intends to acquire US based building product group Headwaters Inc in a deal worth US$2.6b The transaction has been approved by the Headwaters’ Board and is expected to close mid next year.
Boral will raise $2b through a $1.6bn retail and institutional entitlement offer and a A$450m institutional placement at an issue price of $4.80 per share. The remaining $1.6b will be funded through existing cash and debt.
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We continue to see upside in Boral & James Hardie.
