Beacon Roofing Supply Announces the Expiration of the Hart-Scott-Rodino Waiting Period for its Acquisition of Allied Building...
October 04 2017 - 10:02AM
Business Wire
Beacon Roofing Supply, Inc. (NASDAQ: BECN) (“Beacon”) announced
today the expiration of the waiting period required under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended
(“HSR”), in connection with its acquisition of Allied Building
Products Corp. (“Allied”). The waiting period expired on Monday,
October 2, 2017. As announced on August 24, 2017, Beacon has
entered into a definitive purchase agreement to acquire Allied, one
of the country's largest exterior and interior building products
distributors, from global diversified building products group CRH
plc (LSE: CRH, ISE: CRG, NYSE: CRH) ("CRH") for $2.625 billion in
cash. The transaction is expected to close on January 2, 2018.
Following the expiration of the waiting period, Paul Isabella,
Beacon’s CEO and President, stated: "We are very pleased that the
HSR waiting period now is behind us. Everything is on schedule for
our anticipated January 2, 2018 closing, and we remain excited
about the combination of these two great companies. This
transformative acquisition will allow Beacon to provide even better
service and broader product offerings to our customers, greater
opportunities for our employees, and increased value for our
shareholders.”
Forward-Looking
Statements
This release contains information about management’s view of
Beacon’s future expectations, plans, and prospects that constitute
forward-looking statements for purposes of the safe harbor
provisions under the Private Securities Litigation Reform Act of
1995. You can identify forward-looking statements by the fact that
they do not relate strictly to historic or current facts and often
use words such as “anticipate”, “estimate”, “expect”, “believe”,
“will likely result”, “outlook”, “project” and other words and
expressions of similar meaning. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including, but not
limited to, those set forth in the “Risk Factors” section of
Beacon’s latest Form 10-K and subsequent SEC filings. The
forward-looking statements included in this press release represent
Beacon’s views as of the date of this press release and these views
could change. However, while Beacon may elect to update these
forward-looking statements at some point, Beacon specifically
disclaims any obligation to do so, other than as required by
federal securities laws. These forward-looking statements should
not be relied upon as representing Beacon’s views as of any date
subsequent to the date of this press release.
About Beacon Roofing Supply,
Inc.
Founded in 1928, Beacon Roofing Supply, Inc. is the largest
publicly traded distributor of residential and commercial roofing
materials and complementary building products, operating 383
branches throughout 48 states in the U.S. and 6 provinces in
Canada. To learn more about Beacon and its family of regional
brands, please visit www.becn.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171004005835/en/
Beacon Roofing Supply, Inc.Joseph Nowicki, Executive VP &
CFO571-323-3940JNowicki@becn.com
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