(AOF) – Following information from Bloomberg on the subject, Saint-Gobain confirms that it has approached the board of directors of CSR Limited, an Australian specialist in construction materials listed on the Australian Stock Exchange, with a non-binding indicative offer to acquire the entire share capital of CSR through a scheme of arrangement at a price of A$9 in cash per share.
Saint-Gobain believes that a combination with CSR would be attractive for both groups, “taking advantage of their long-standing partnership with similar business models, cultural proximity and development opportunities”.
Saint-Gobain’s offer is subject to confirmatory due diligence and the signing of final legal documentation relating to the transaction.
“No transaction is assured at this stage and Saint-Gobain will keep the market informed of the progress of the transaction in accordance with the applicable rules,” the group specifies in a press release.
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