GCP Applied Technologies to be acquired by Saint-Gobain for $32/share in cash

Dec. 06, 2021 6:22 AM ETGCP Applied Technologies Inc. (GCP)By: Niloofer Shaikh, SA News Editor
  • Saint-Gobain will acquire GCP Applied Technologies (NYSE:GCP) for $32.00 per share, in cash, in a transaction valued at approximately $2.3B.
  • The price represents a premium of 39% above the volume-weighted average price per GCP share for the 30-trading days ended on November 30, 2021.
  • Transaction is expected to close in the second half of 2022, after GCP Applied Technologies shareholders’ and antitrust approvals.
  • Simon Bates, President and Chief Executive Officer of GCP, commented: Today opens an exciting new era in GCP’s rich history, for our shareholders, customers and employees. We are thrilled for GCP to join Saint-Gobain, the ideal strategic partner to support our growth. Thanks to its global platform, significant resources as well as commercial and innovation expertise, Saint-Gobain is perfectly positioned to ensure the success of GCP’s operations and people over the long term.”
  • Shares up 14.4% premarket.

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