French construction materials manufacturer Saint-Gobain announced on Monday it entered a definitive agreement to acquire Australia's CSR Limited for 4.5 billion Australian dollars (€2.7 billion).
Saint-Gobain noted it will buy all outstanding shares of CSR by way of an Australian scheme of arrangement for 9 Australian dollars per share.
The deal has been approved by Saint-Gobain's board of directors and CSR's board recommended shareholders to vote in favor of the acquisition. The transaction is expected to close in the second half of 2024, subject to CSR shareholders' and regulatory approval.
