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Manufacturer of exterior building products, Cornerstone Building Brands, had agreed to a $5.8 billion deal with shareholder Clayton, Dubilier & Rice to be taken private. The private equity firm currently ows 49% of Cornerstone’s common stock and has offered shareholders $24.65 in cash for each share held. 

CD&R’s offer represents a 16% premium of Cornerstone’s closing price on Friday, March 4. The company’s shares increased by more than 13% in premarket trading.

The deal will close in the second or third quarter of 2022.

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Source: Reuters – Reuters Staff, March 7, 2022