Saint-Gobain offers to buy rival CSR in US$2.8bil deal

The transaction would rank as the biggest takeover by a French company in 2024 and the second-largest transaction in Australia so far this year. — Bloomberg

LONDON: Cie de Saint-Gobain of France has offered to buy Australia’s CSR Ltd for A$4.3bil (US$2.8bil) as the building industry consolidates amid a shift to more climate-friendly materials.

The offer price of A$9 a share represents a 34% premium to CSR’s Tuesday closing price.