Wall cladding and plasterboard group James Hardie will acquire outdoor building products group AZEK in a deal that values the Chicago-headquartered building materials producer at almost $14 billion.
Under the deal, announced on Monday morning, AZEK shareholders will receive stock and cash valued at $US56.88 ($90.67) and will own about 26 per cent of the combined company, which will be listed on the New York Stock Exchange. It will have a secondary listing on the ASX.
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