0756 ET - A deal between Azek and James Hardie combines two of the biggest secular growth stories in the building products space, Truist's Keith Hughes says in a research note. James Hardie Industries, a fiber cement siding producer, agreed to buy Azek, a maker of composite decking, railing and pergolas, in a cash-and-stock deal worth $8.75 billion. Hughes notes that the products of both companies provide significant benefits over traditional options such as wood and vinyl and have seen above market growth versus their respective categories. Azek jumps 21% premarket, while Australia-listed shares of James Hardie were off 14%. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
March 24, 2025 07:56 ET (11:56 GMT)
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