- Reuters
Australia's CSR stock rises after $2.8 billion takeover offer from Saint-Gobain
(Reuters) -Australia's CSR Ltd shares rose a further 5% on Thursday as the building products maker came into play following a A$4.30 billion ($2.81 billion) non-binding takeover proposal from France's Saint-Gobain . The Sydney-based firm said it had received a A$9.0 per share offer from the French group, which represented a premium of 13.2% to CSR's last close. CSR is one of Australia's oldest companies, having been established in 1855, initially as a sugar refining business, before its diversification into building products.
- Reuters
UPDATE 1-Saint Gobain in talks to buy Australia's CSR, Bloomberg reports
French construction materials group Saint-Gobain is in initial talks to acquire Australian building materials firm CSR Ltd, Bloomberg News reported on Wednesday. The companies are working with advisers to narrow down on a deal, the report said, citing people familiar with the matter, with one of them adding that St. Gobain has lined up financing for a potential transaction. CSR and Saint Gobain did not immediately respond to Reuters' request for comment.
