India, March 23 -- James Hardie Industries plc (JHX,JHX.AX) agreed to acquire The AZEK Company Inc. (AZEK), a manufacturer of high-performance, low-maintenance and environmentally sustainable outdoor living products, for a combination of cash and James Hardie shares with a total transaction value of $8.75 billion, including AZEK's net debt of approximately $386 million.
As per the terms of the Agreement, AZEK shareholders will receive $26.45 in cash and 1.0340 ordinary shares of James Hardie to be listed on the New York Stock Exchange for each share of AZEK common stock they own. The stock and cash consideration represents a total per share value of $56.88, based on the closing stock price of A$46.80 per share of James Hardie's CHESS Depos...