Saint-Gobain Proposes Acquisition of CSR Limited

Saint-Gobain, the construction giant, has made a non-binding indicative offer to acquire CSR Limited, a major player in the Australian construction materials industry. The offer of 9 Australian dollars per share targets the entire issued capital of CSR. This proposal is subject to confirmatory due diligence and the conclusion of binding transaction agreements.

The proposed transaction will require approval from CSR shareholders as well as usual regulatory authorizations. The potential offered by this merger is marketed as beneficial for both entities, sharing similar business models and a common corporate culture. For Saint-Gobain, this acquisition aligns with its global development strategy, particularly its entry into the Australian market.

On the other hand, CSR's board of directors has unanimously decided to continue discussions, subject to the finalization of transaction documents. Saint-Gobain is currently completing its confirmatory due diligence. No assurance of a transaction is given at this stage, but Saint-Gobain promises to keep the market informed in accordance with applicable rules.

This takeover offer comes as Saint-Gobain asserts its global leadership in lightweight and sustainable construction, and commits to carbon neutrality by 2050.