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Buying to make acquisitions usually makes more sense when the market is weak. Adding doors to a portfolio of products, including roofing and insulation, makes sense.
Masonite (DOOR) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Owens Corning has agreed to buy Masonite for $3.9 billion, a premium of 38% over the target company's Thursday close. The deal appears likely to close as planned, providing limited additional upside in Masonite shares.
Shares of Masonite International (DOOR) surged to an all-time high after the door maker struck a deal to be bought out by building and construction materials manufacturer Owens Corning (OC) for $3.9 billion.
Owens Corning is buying Masonite, a maker of doors, for $133 a share in cash.
Owens Corning, a Toledo, Ohio, maker of building and construction materials, said the addition of Masonite's doors business creates a new growth platform.
Shares of Masonite International Corp. DOOR, +1.42% rocketed 34% toward its best day in 15 years in premarket trading Friday, after the doors maker agreed to be acquired by construction materials company Owens Corning OC, +0.58% in a cash deal valued at $3.9 billion. Owens Corning's stock tacked on 0.3% in the premarket.
TAMPA, Fla.--(BUSINESS WIRE)--Masonite International Corporation (NYSE: DOOR) today announced it will release fourth quarter and full year 2023 financial results on Monday, February 19, 2024. Management will host a conference call to discuss the results at 9:00 a.m. (Eastern Time) on Tuesday, February 20, 2024. A webcast of the conference call will be available at investor.masonite.com. It is recommended that listeners log on at least 10 minutes prior to the start of the call. Telephone access.
Masonite CEO Howard Heckes joins ‘The Exchange' to discuss their decision to acquire PGT Innovations in $3 billion deal, whether they would run into regulatory hurdles, and more.
Shares of PGT Innovations Inc. PGTI, -1.39% shot up 8.1% into record territory in premarket trading Monday, after the maker of windows, doors and garage doors announced an agreement to be bought by Masonite International Corp. DOOR, -1.71% in a cash and stock deal valued at $3 billion. Under terms of the deal, PGT shareholders will receive $41 for each PGT share they own, made up of $33.50 a share in cash and $7.50 a share worth of Masonite stock.