The Saint-Gobain headquarters in the La Défense business district
French construction materials group Saint-Gobain confirmed on Wednesday that it is in advanced talks to acquire its Australian competitor CSR.
The group is holding discussions on a non-binding indicative offer to acquire the entire share capital of CSR at a price of A$9.00 per share, it said.
“Saint-Gobain believes that a combination with CSR would be attractive to both groups, leveraging their long-standing partnership with similar business models, cultural proximity and development opportunities,” the group added.
(Written by Diana Mandiá, edited by Blandine Hénault)