French company Saint-Gobain“s CertainTeed Corp. unit received antitrust clearance for its proposed acquisition of Brunswick Technologies Inc..
As reported, CertainTeed began a tender offer 20 April …
French company Saint-Gobain“s CertainTeed Corp. unit received antitrust clearance for its proposed acquisition of Brunswick Technologies Inc.. As reported, CertainTeed began a tender offer 20 April for all of Brunswick Technologies“ outstanding shares at US$ 8 a share cash which Brunswick“s board had urged shareholders to reject, calling it “inadequate”. In a recent press release, CertainTeed said the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired as of Wednesday. The waiting period refers to the time during which the US government could request additional information or documents regarding the proposed acquisition. Vetrotex CertainTeed Corp., CertainTeed“s fibre-glass reinforcements unit, owns about 14% of of Brunswick Technologies“ shares outstanding. Shares of Brunswick Technologies, which makes reinforcement fabrics used to make composite materials, recently traded at 8 25/32, down 1/32 or 0.4%, on Nasdaq volume of 40,100, compared with average daily volume of 64,336 shares. CertainTeed makes roofing, vinyl and fibre cement siding and other products.