Reported 2 days ago
James Hardie Industries defended its $8.75 billion acquisition of AZEK Co. despite a significant stock decline, due to concerns over the US economy. CEO Aaron Erter emphasized the long-term opportunities presented by the deal, which aims to enhance James Hardie's presence in the US housing market. The acquisition is projected to drive revenue growth by expanding product offerings and capitalizing on the demand for composite materials, even as analysts express caution over the deal's premium.
Source: YAHOO