** ASX-listed fiber cement maker James Hardie Industries JHX.AX announces deal to buy U.S. artificial decking maker AZEK AZEK.N in deal priced at $8.75 billion
** Citi acknowledges strategic logic of acquisition but questions organic product development growth outlook and timing of deal
** Acquisition likely to boost revenue, especially with PVC trim, commonly used in construction for pipes, introduction enhancing Northeast siding growth - Brokerage
** Citi flags that deal increases leverage to 2.8x ND/EBITDA, above guidance, potentially worrying investors due to economic uncertainty
** Retains "neutral" rating at PT of A$56
** Stock down 20.1% YTD
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))
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