Beacon Roofing Supply, Inc. (NASDAQ: BECN) (“Beacon”) announced today
the expiration of the waiting period required under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended
(“HSR”), in connection with its acquisition of Allied Building Products
Corp. (“Allied”). The waiting period expired on Monday, October 2, 2017.
As announced on August 24, 2017, Beacon has entered into a definitive
purchase agreement to acquire Allied, one of the country's largest
exterior and interior building products distributors, from global
diversified building products group CRH plc (LSE: CRH, ISE: CRG, NYSE:
CRH) ("CRH") for $2.625 billion in cash. The transaction is expected to
close on January 2, 2018.
Following the expiration of the waiting period, Paul Isabella, Beacon’s
CEO and President, stated: "We are very pleased that the HSR waiting
period now is behind us. Everything is on schedule for our anticipated
January 2, 2018 closing, and we remain excited about the combination of
these two great companies. This transformative acquisition will allow
Beacon to provide even better service and broader product offerings to
our customers, greater opportunities for our employees, and increased
value for our shareholders.”
This release contains information about management’s view of Beacon’s
future expectations, plans, and prospects that constitute
forward-looking statements for purposes of the safe harbor provisions
under the Private Securities Litigation Reform Act of 1995. You can
identify forward-looking statements by the fact that they do not relate
strictly to historic or current facts and often use words such as
“anticipate”, “estimate”, “expect”, “believe”, “will likely result”,
“outlook”, “project” and other words and expressions of similar meaning.
Actual results may differ materially from those indicated by such
forward-looking statements as a result of various important factors,
including, but not limited to, those set forth in the “Risk Factors”
section of Beacon’s latest Form 10-K and subsequent SEC filings. The
forward-looking statements included in this press release represent
Beacon’s views as of the date of this press release and these views
could change. However, while Beacon may elect to update these
forward-looking statements at some point, Beacon specifically disclaims
any obligation to do so, other than as required by federal securities
laws. These forward-looking statements should not be relied upon as
representing Beacon’s views as of any date subsequent to the date of
this press release.
About Beacon Roofing Supply, Inc.
Founded in 1928, Beacon Roofing Supply, Inc. is the largest publicly
traded distributor of residential and commercial roofing materials and
complementary building products, operating 383 branches throughout 48
states in the U.S. and 6 provinces in Canada. To learn more about Beacon
and its family of regional brands, please visit www.becn.com.
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