CSR Limited (ASX: $CSR) has received approval from the Supreme Court of New South Wales for the proposed acquisition by Compagnie de Saint-Gobain through a scheme of arrangement for $9.00 cash per share. The Scheme is expected to become legally effective upon lodging the Court orders with the Australian Securities and Investments Commission.
The Supreme Court of New South Wales' approval of the scheme marks a significant milestone in the acquisition process. We are pleased with this development and look forward to the completion of the transaction, which we believe is in the best interest of our shareholders. We will continue to provide updates as we progress towards the Implementation Date.
CSR Limited has successfully obtained approval from the Supreme Court of New South Wales for the proposed acquisition by Compagnie de Saint-Gobain. The Scheme, offering $9.00 cash per share, is set to become legally effective upon lodging the Court orders with the Australian Securities and Investments Commission. Shareholders are expected to receive the Scheme Consideration of $8.88 cash per share and the CSR Permitted Dividend of $0.12 cash per share. The Implementation Date is currently anticipated to be Tuesday, 9 July 2024. CSR will keep the ASX informed of any changes to the indicative timetable. The company remains committed to delivering value to its shareholders and will continue to provide necessary updates as the transaction progresses.