Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Akanksha Bakshi

Cornerstone Building Brands Agrees To Be Acquired By CD&R For $5.8B

  • Cornerstone Building Brands Inc (NYSE:CNR) has agreed to be acquired by Clayton, Dubilier & Rice (CD&R) affiliates in an all-cash transaction with an enterprise value of ~$5.8 billion, including debt.
  • Cornerstone Building Brands' shareholders will receive $24.65 in cash per share, representing a 16% premium to the closing price as of March 4, 2022. It represents a 75% premium to the closing price as of February 4, 2022, the last trading day before speculation in the market regarding a potential transaction.
  • RelatedCornerstone Building Brands Stock Soars After CD&R Bids For The Remaining Stake
  • CD&R beneficial owns approximately 49% of the company's outstanding shares of common stock.
  • This transaction will result in Cornerstone Building Brands becoming a private company and is expected to close in the second or third quarter of 2022.
  • Price Action: CNR shares are trading higher by 13.7% at $24.23 during the premarket session on Monday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.