CD&R Acquisition
In March 2022, Cornerstone Building Brands (Cornerstone) announced it would be acquired by private equity firm Clayton, Dubilier & Rice (CD&R), which is currently beneficial owner of 49.0% of Cornerstone’s outstanding shares. The acquisition will provide shareholders with $24.65 in cash per share, a premium over the company’s current share price. This transaction is expected to lay the foundations for Cornerstone to add further value to its operations as it continues to serve as a leader in the buildings product market.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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