Owens Corning Acquires Masonite in Definitive Agreement
Company Announcements

Owens Corning Acquires Masonite in Definitive Agreement

Owens Corning (OC) has released an update to notify the public and investors about an entry into a material definitive agreement.

Owens Corning is set to acquire Masonite International Corporation, with Masonite becoming a wholly owned subsidiary at a purchase price of $133.00 per share. This significant transaction will be financed through a mix of cash and debt, including a $3 billion loan facility from Morgan Stanley Senior Funding, Inc. The deal hinges on customary closing conditions such as shareholder approval and regulatory clearances. Masonite’s equity awards will be converted or canceled, and in the case of an alternative superior proposal, Masonite may engage with other parties, potentially paying Owens Corning a termination fee if the agreement is dissolved.

For further insights into OC stock, check out TipRanks’ Stock Analysis page.

For a comprehensive understanding of the announcement, you can read the full document here.

Related Articles
TheFlyOwens Corning price target raised to $188 from $172 at Evercore ISI
TheFlyInstalled Building Products price target raised to $282 from $274 at Evercore ISI
TheFlyTopBuild price target raised to $555 from $529 at Evercore ISI
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Optimize your mobile reading experience. Download the TipRanks App today!