Overview of CSR's acquisition update

CSR Limited (ASX: $CSR) has received written notice confirming the satisfaction of the Foreign Investment Review Board (FIRB) approval condition precedent to the proposed acquisition by Compagnie de Saint-Gobain (Saint-Gobain) for $9.00 cash per share. The Scheme remains subject to shareholder approval at the Scheme Meeting on 13 June 2024, Court approval, and other conditions as outlined in the Scheme Booklet.

Directors' recommendation and voting intention

The CSR Directors unanimously recommend that shareholders vote in favor of the Scheme, provided there is no superior proposal and the independent expert continues to conclude that the Scheme is fair and reasonable and in the best interest of CSR Shareholders. Each CSR Director intends to vote all of the CSR Shares held or controlled by them in favor of the Scheme. Shareholders are encouraged to review the Scheme Booklet, including the Independent Expert's Report, before making a decision on how to vote on the Scheme.

Outlook and Scheme Meeting details

The receipt of FIRB approval marks a significant milestone in the proposed acquisition process. CSR Shareholders are urged to consider the Directors' recommendation and the voting intentions of the CSR Directors. The Scheme Meeting, where shareholders will vote on the Scheme, is scheduled for 13 June 2024. Shareholders are advised to review the Scheme Booklet for comprehensive information on the acquisition and participation in the Scheme Meeting.