Industrials Company Owens-Corning Announces Acquisition of Masonite International

Owens-Corning OC has announced an acquisition of Masonite International DOOR that is expected to be completed 2024-H1.

Under the terms of the agreement, Owens-Corning has agreed to give Masonite International $3.90 billion in cash in exchange for DOOR stock.

About The Companies Involved

Owens-Corning Inc is a manufacturer of glass fiber utilized in composites and building materials. It has an integrated business model with three reportable segments: Composites, Insulation, and Roofing.

Masonite International Corp is engaged in designing, manufacturing, marketing and distributing interior and exterior doors for the new construction and repair, renovation and remodeling sectors of the residential and non-residential building construction markets. Its product categories include interior molded residential doors, interior stile and rail residential doors, exterior fibreglass residential doors, exterior steel residential doors, interior architectural wood doors, wood veneers and molded door facings and door core.

How An Acquisition Works

An acquisition is when one company, called the acquiring company, buys most or all of another company's, or target company's, shares to gain ownership. Buying more than 50% of a company's stock allows the the acquirer to make decisions without the approval of the company's shareholders.

An acquisition can potentially lead to a merger with the parent company, which makes it similar to a merger. This is why the two terms are commonly grouped together as mergers and acquisitions (M&A). However, in a merger, the leadership & operations of both companies usually change dramatically, while during an acquisition this is less likely to happen.

Make sure to follow our mergers & acquisitions calendar to stay-up-to-date on the most recent M&A deals.

This article was generated by Benzinga's automated content engine and reviewed by an editor.