Standard Industries Announces Final Results of Takeover Offer for Braas Monier
- Standard Industries secures a total of 93.8 percent of Braas Monier shares at the end of additional acceptance period
- Transaction expected to close during
firstquarter of 2017
New York/Frankfurt, January 30, 2017 — Standard Industries Inc., a leading global provider of roofing and waterproofing solutions, today confirmed the final results for its voluntary public takeover offer for all shares of Braas Monier Building Group S.A. The additional acceptance period expired on Wednesday, January 25, 2017.
A total of 38,853,708 shares, corresponding to approximately 90.2 percent of the total share capital and voting rights in Braas Monier, were tendered until the end of the additional acceptance period. In total, Standard Industries has now secured 40,415,615 shares, corresponding to approximately 93.8 percent of the total share capital and voting rights in Braas Monier.
“We are excited to bring together Standard Industries and Braas Monier, two highly complementary businesses, as we continue to build a world-class, global leader in the roofing and waterproofing industry,” said David Winter, Co-CEO of Standard Industries. “We look forward to working together with Braas Monier’s management and employees to continue to innovate and offer both flat and pitched roofing solutions to our customers around the world,” he continued.
“Standard Industries’ enhanced global reach, coupled with expertise across diverse technologies, will position us to better serve our customers’ increasingly complex needs,” said David Millstone, Co-CEO of Standard industries. “The combination with Braas Monier reflects Standard Industries’ commitment to the industry and to continuous investment in the business and our people worldwide,” he continued.
All non-regulatory conditions for the takeover offer were satisfied at the end of the initial acceptance period. The company expects the offer to close in the first quarter of the year, pending antitrust approval as set forth in the offer document.
Additional information is available at http://www.standardindustriesoffer.com.
About Standard Industries
Standard Industries is a privately-held, global, diversified holding company with interests in building materials, aggregates, and related investment businesses in public equities and real estate. Founded in 1886, Standard Industries has over 15,000 employees and operations in more than 80 countries. Operating subsidiaries include: GAF, a leading North American roofing manufacturer; Braas Monier Building Group, a leading manufacturer and supplier of pitched roof products in Europe, parts of Asia and South Africa; Icopal, a leading European commercial roofing business; SGI, a leading North American aggregates and mining company supplying specialized products to the North American building materials industry; and Siplast, a provider of high-end modified bitumen membranes and liquid-applied roofing products.
Hering Schuppener Consulting
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