Investors express concerns on ASX rules over proposed James Hardie-Azek merger

Reuters

04/17

April 17 (Reuters) - A group of investors in Australian publicly-listed companies called for a review of the listing rules, saying the proposed $8.75 billion acquisition of Azek AZEK.N by James Hardie JHX.AX would negatively impact shareholders' interests.

The investors wrote to the Australian Stock Exchange $(ASX)$ on Wednesday, saying James Hardie's acquisition of Azek would result in a significant dilution of interests for its existing shareholders and "irreversibly change their rights" without any vote.

ASX and James Hardie did not immediately respond to a Reuters request for comment.

(Reporting by Adwitiya Srivastava in Bengaluru; Editing by Mrigank Dhaniwala)

((Adwitiya.Srivastava@thomsonreuters.com;))

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