CWS Market Review – November 12, 2019

Great news! After the close, Continental Building Products (CBPX) said it’s going to be bought out for $37 per share.

Here’s the press release.

The acquirer is Compagnie de Saint-Gobain S.A., a French multinational. The deal values Continental at $1.4 billion. I’m curious if someone released the news too early, but the shares shot up moments before the closing bell. The final trade was $35.75. That’s a gain of 11.65% for the day. Since early August, CBPX is up 62%.

Don’t expect CBPX to trade at $37 just yet. The companies need to jump over some regulatory hurdles before the deal is complete. Also, shareholders need to sign off on the deal. That shouldn’t be a problem. It’s already been unanimously approved by the company’s Board of Directors.

I wanted to let you know the great news! I’ll have more in the next issue of CWS Market Review.

-Eddy

Posted by on November 12th, 2019 at 5:41 pm


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