- Cornerstone Building Brands Inc CNR has received a non-binding proposal from funds affiliated with Clayton, Dubilier & Rice, LLC to acquire all its outstanding shares of common stock for $24.65 in cash per share.
- The offer price represents a 34% premium to Friday's closing price of $18.40.
- CD&R already owns ~49% of Cornerstone Building's shares.
- The board of directors has previously formed a special committee of independent directors to evaluate the proposal from CD&R and any other alternative suggestions or other strategic alternatives available to the company.
- Price Action: CNR shares are trading higher by 21.9% at $22.44 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
