Owens Corning to acquire Masonite International for $133/share (~$3.9B)

Owens Corning

Purchase price of $133.00 per share in cash; total enterprise value ~$3.9 billion.
Pro forma revenue ~$12.6B, adjusted EBITDA ~$2.9B including $125M in cost synergies.
Financed with cash on hand and $3.0B term loan from Morgan Stanley; net debt-to-EBITDA in 2-3x range.
Owens Corning also announces strategic review of its glass reinforcements business within Composites segment.
Transaction expected to close by mid-2025, subject to shareholder and regulatory approvals.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Owens Corning entered into Arrangement Agreement with Masonite International Corporation valued at $133.00 per share in cash (effective 2024-02-08).

Action: entry
Agreement: merger
Counterparty: Masonite International Corporation
Value: $133.00 per share in cash
Effective: 2024-02-08

Exact text from the filing

On February 8, 2024, Owens Corning, a Delaware corporation (“Owens Corning”), entered into an Arrangement Agreement (the “Agreement”) with MT Acquisition Co ULC, a British Columbia unlimited liability company and a wholly owned subsidiary of Owens Corning (“Purchaser”) and Masonite International Corporation, a British Columbia corporation (“Masonite”), pursuant to which Purchaser will acquire all of the issued and outstanding common shares of Masonite at a purchase price of $ 133.00 per share (the “Arrangement”).

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292 material agreements filed in the last 30 days. Browse all material agreements →

Owens Corning filing history →

Source: SEC EDGAR

accession 0000950103-24-001972

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