CSR Limited enters into scheme implementation deed with Saint-Gobain

CSR Limited (ASX: $CSR) has entered into a Scheme Implementation Deed with Compagnie de Saint-Gobain for the acquisition of all issued shares in CSR by way of a scheme of arrangement at an offer price of $9.00 cash per share. The cash consideration values CSR's equity at approximately $4,323 million and represents a significant premium to the recent share prices. The Board unanimously recommends that shareholders vote in favor of the Scheme, subject to certain conditions. The implementation of the Scheme is subject to various customary conditions, including regulatory approvals, shareholder approval, and no material adverse change to CSR. The Scheme is expected to occur in the first half of CSR's YEM2025 financial year.

Executive Commentary on Scheme Implementation Deed

The Scheme Implementation Deed with Saint-Gobain marks a significant step for CSR Limited. The offer price of $9.00 cash per share represents a substantial premium to recent share prices, reflecting the confidence in CSR's value. The Board's unanimous recommendation for shareholders to vote in favor of the Scheme underscores the belief in the benefits this acquisition will bring. We are committed to ensuring that all necessary conditions, including regulatory and shareholder approvals, are met for a successful implementation of the Scheme.

Summary of Scheme Implementation Deed and Outlook

CSR Limited has entered into a Scheme Implementation Deed with Saint-Gobain for the acquisition of all issued shares in CSR at an offer price of $9.00 cash per share. The Board's unanimous recommendation for shareholders to vote in favor of the Scheme reflects confidence in the premium offer. The implementation of the Scheme is subject to various conditions, including regulatory approvals and shareholder approval. The acquisition is expected to occur in the first half of CSR's YEM2025 financial year. This strategic move aligns with CSR's commitment to delivering value to its shareholders and marks a significant milestone in the company's corporate strategy. The premium offer and the Board's recommendation indicate a positive outlook for the future of CSR Limited.