Original article by Simon Evans
The Australian Financial Review – Page: 19 : 27-Feb-24

French firm Saint-Gobain has said in a statement that the board of CSR has unanimously recommended that shareholders of the building products firm accept its $4.3 billion takeover bid, with the two firms having signed a scheme implementation deed. CSR chairman John Gillam said that the two companies had been in discussions since early January, when CSR had rejected a lower bid by Saint-Gobain. Saint-Gobain stated that it expected to achieve $60 million in synergies by the third year of its ownership of CSR, of which $50 million would come from the cost side.

CORPORATES
CSR LIMITED – ASX CSR, SAINT-GOBAIN