Why Azek Stock Is Soaring Today
Construction materials manufacturer Azek (NYSE: AZEK) is in an agreement to be acquired, and investors are excited about the premium being paid.Shares of Azek were up 16% as of 10 a.m. ET after the company agreed to be acquired by Australia's James Hardie Industries (NYSE: JHX) for $8.75 billion, including debt.Azek manufacturers decking made primarily of recycled materials, offering a more eco-friendly and sustainable option for homeowners. Hardie, which is based in Australia but does most of its business in the U.S., knows this niche well as the maker of Hardie board fiber cement siding.Continue reading
Construction materials manufacturer Azek (NYSE: AZEK) is in an agreement to be acquired, and investors are excited about the premium being paid.
Shares of Azek were up 16% as of 10 a.m. ET after the company agreed to be acquired by Australia's James Hardie Industries (NYSE: JHX) for $8.75 billion, including debt.
Azek manufacturers decking made primarily of recycled materials, offering a more eco-friendly and sustainable option for homeowners. Hardie, which is based in Australia but does most of its business in the U.S., knows this niche well as the maker of Hardie board fiber cement siding.
