Building and construction material company, Boral Limited
(ASX:BLD) has announced it will complete the purchase of Headwaters Incorporated in two days, for an aggregate enterprise value of US$2.6 billion.
It comes as the Federal Trade Commission (FTC) of the United States completed its review of the purchase and cleared the transaction to be closed.
Boral says the purchase of the product and service construction material company will add significant scale to Boral’s US footprint, improve its reach and give it the ability to compete in North America.
The companies will also form a new division, Boral North America, which will be a US$1.8 billion revenue company.
Shares in Boral Limited
(ASX:BLD) are currently trading 1.34% higher to $6.44.
