Saint-Gobain To Buy Continental Building Products In $1.4 Bln Deal

(RTTNews) - Saint-Gobain agreed to buy Continental Building Products (CBPX) for $37.00 per share, in cash, in a transaction valued at about $1.4 billion.

The purchase price represents a premium of 34.4% to the volume weighted average price for the 60 trading days ending November 11, 2019.

Saint-Gobain expects the transaction to be value creative by the third year following transaction close, in line with the Group's acquisition criteria.

It is expected to close the deal in the second half of 2020.

Continental Building Products is a plasterboard player in North America, employs 645 people and is expected to generate 2019 revenues of approximately $510 million.