American Securities LLC will acquire all outstanding shares of Foundation Building Materials for $19.25 per share
Nov. 16, 2020 5:56 AM ETFoundation Building Materials, Inc. (FBM)By: SA News Team
- Foundation Building Materials (NYSE:FBM) enters an agreement under which an affiliate of American Securities LLC, will acquire all outstanding shares of FBM for $19.25 per share in an all-cash transaction valued at ~$1.37B, including outstanding debt.
- Upon completion of the transaction, FBM will become a privately held company.
- FBM shareholders to receive $19.25 per share in cash.
- The transaction was unanimously approved by the FBM Board of Directors, represents a premium of ~27% to the closing price of FBM common stock on Nov. 13, 2020.