• Cornerstone Building Brands Inc (NYSE: CNR) has agreed to be acquired by Clayton, Dubilier & Rice (CD&R) affiliates in an all-cash transaction with an enterprise value of ~$5.8 billion, including debt.

• Cornerstone Building Brands' shareholders will receive $24.65 in cash per share, representing a 16% premium to the closing price as of March 4, 2022. It represents a 75% premium to the closing price as of February 4, 2022, the last trading day before speculation in the market regarding a potential transaction.

• Related: Cornerstone Building Brands Stock Soars After CD&R Bids For The Remaining Stake

• CD&R beneficial owns approximately 49% of the company's outstanding shares of common stock.

• This transaction will result in Cornerstone Building Brands becoming a private company and is expected to close in the second or third quarter of 2022.

• Price Action: CNR shares are trading higher by 13.7% at $24.23 during the premarket session on Monday.

See more from Benzinga

• Cornerstone Building Brands Clocks ~24% Sales Growth In Q4, Tops Street View

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.