Associated tags: Multinational corporation, Masonite International, Construction & Property, Residential Building & Real Estate, Masonite, Commercial Building & Real Estate, Other Construction & Property, Owens Corning, Other Manufacturing, Manufacturing, Interior Design
Locations: NEW YORK, BOSTON, FLEETWOOD, IR, WARDWELL, OHIO, BLACKWELL, BRITISH COLUMBIA, WALL STREET, NY, US, BALA CYNWYD, PA, LOUISIANA, AR, SG, SOUTHAMPTON, NEW YORK CITY, HAYNES, OWENS, UNITED STATES, NORTH AMERICA, FLORIDA
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Video game SG&A as a percentage of net sales increased 880 basis points to 23% compared to the first quarter of 2023.
Key Points:
- SG&A as a percentage of net sales increased 880 basis points to 23% compared to the first quarter of 2023.
- During the first quarter, Masonite did not repurchase any shares of stock.
- In light of this pending transaction, Masonite does not plan to hold a live conference call to discuss first quarter results.
- Additional information on the Company's results can be found on our Form 10-Q to be filed with the Securities and Exchange Commission on May 7, 2024.
Other Construction & Property,
Residential Building & Real Estate,
Manufacturing,
Commercial Building & Real Estate,
Construction & Property,
Other Manufacturing,
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Security (finance) Owens Corning and Masonite are making the Exchange Offer and Consent Solicitation pursuant to the terms of and subject to the conditions set forth in the offering memorandum and consent solicitation statement dated May 1, 2024 (the “Statement”).
Key Points:
- Owens Corning and Masonite are making the Exchange Offer and Consent Solicitation pursuant to the terms of and subject to the conditions set forth in the offering memorandum and consent solicitation statement dated May 1, 2024 (the “Statement”).
- Eligible Holders may not deliver consents to the Proposed Amendments in the Consent Solicitation without tendering Existing Masonite Notes in the Exchange Offer, and may not tender Existing Masonite Notes in the Exchange Offer without delivering consents in the Consent Solicitation.
- To the extent any Existing Masonite Notes are not tendered and accepted in the Exchange Offer and Consent Solicitation, Owens Corning or Masonite may purchase any outstanding Existing Masonite Notes in the open market, in privately negotiated transactions, through one or more additional tender or exchange offers, by redemption or otherwise.
- The New Owens Corning Notes will not be guaranteed by any of Owens Corning’s subsidiaries, including Masonite and its subsidiaries that guarantee the Existing Masonite Notes.
Other Manufacturing,
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Interior Design,
Manufacturing,
Building Systems,
Other Construction & Property,
Residential Building & Real Estate,
OC,
Masonite International,
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HSR,
Building material,
Owens Corning Owens Corning (NYSE: OC), a leader in global building and construction materials, today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) in connection with the company’s previously announced acquisition of Masonite International Corporation (“Masonite”) (NYSE: DOOR).
Key Points:
- Owens Corning (NYSE: OC), a leader in global building and construction materials, today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) in connection with the company’s previously announced acquisition of Masonite International Corporation (“Masonite”) (NYSE: DOOR).
- The expiration of the waiting period occurred at 11:59 p.m. on April 26, 2024.
- The expiration of the HSR Act waiting period satisfies a closing condition for the transaction.
- Masonite previously announced that its shareholders voted to approve the company’s acquisition by Owens Corning at its Special Meeting of Shareholders.
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Property management Except as set forth herein, all other terms and conditions of the Tender Offer and Consent Solicitation described in the Statement remain unchanged.
Key Points:
- Except as set forth herein, all other terms and conditions of the Tender Offer and Consent Solicitation described in the Statement remain unchanged.
- The deadline to withdraw Masonite Notes and revoke related consents tendered and delivered in the Tender Offer and Consent Solicitation was 5:00 p.m., New York City time, on April 26, 2024, which deadline has not been extended (the “Withdrawal Deadline”).
- Owens Corning and Masonite reserve the right to terminate, withdraw, extend or further amend the Tender Offer and Consent Solicitation as described in the Statement.
- Holders of Masonite Notes (“Holders”) may not deliver consents to the Proposed Amendments in the Consent Solicitation without tendering Masonite Notes in the Tender Offer, and may not tender Masonite Notes in the Tender Offer without delivering consents to the Proposed Amendments in the Consent Solicitation.
Architecture,
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Multinational corporation,
Special,
Owens Corning,
Supreme court Masonite International Corporation (NYSE: DOOR) (“Masonite”) today announced that its shareholders have voted to approve the Company’s proposed transaction with Owens Corning at its Special Meeting of Shareholders.
Key Points:
- Masonite International Corporation (NYSE: DOOR) (“Masonite”) today announced that its shareholders have voted to approve the Company’s proposed transaction with Owens Corning at its Special Meeting of Shareholders.
- As previously announced, under the terms of the transaction, Masonite shareholders will receive $133.00 per share in cash in connection with the closing of the transaction.
- Howard Heckes, President and Chief Executive Officer of Masonite, said, “We thank our shareholders for their overwhelming support of this transaction.
- Together with Owens Corning, we will be even better positioned to continue transforming the door industry through the execution of our proven Doors That Do More™ strategy.
Retrieved on:
Wednesday, April 24, 2024
Architecture,
Residential Building & Real Estate,
Manufacturing,
Commercial Building & Real Estate,
Construction & Property,
Building Systems,
Other Manufacturing,
Sale,
Masonite International,
Masonite,
Multinational corporation Masonite International Corporation (NYSE: DOOR) today announced that it has entered into a definitive agreement for the sale of all assets associated with the company’s Architectural segment to subsidiaries of IBP Solutions, Inc., a newly formed portfolio company of Industrial Opportunity Partners.
Key Points:
- Masonite International Corporation (NYSE: DOOR) today announced that it has entered into a definitive agreement for the sale of all assets associated with the company’s Architectural segment to subsidiaries of IBP Solutions, Inc., a newly formed portfolio company of Industrial Opportunity Partners.
- The transaction is expected to close in the second quarter of 2024 and is subject to customary closing conditions.
- Houlihan Lokey, Inc. acted as Masonite’s financial advisor on the transaction.
Residential Building & Real Estate,
Commercial Building & Real Estate,
Manufacturing,
Construction & Property,
Interior Design,
Building Systems,
Other Manufacturing,
Textiles,
Steel,
Other Construction & Property,
Chemicals,
Plastics,
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Acquisition,
Owens Corning,
Wells Fargo,
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Settlement,
Tender,
Participation,
Note,
Security (finance) Owens Corning and Masonite are making the Tender Offer and Consent Solicitation pursuant to the terms of and subject to the conditions set forth in the offer to purchase and consent solicitation statement dated April 15, 2024 (the “Statement”).
Key Points:
- Owens Corning and Masonite are making the Tender Offer and Consent Solicitation pursuant to the terms of and subject to the conditions set forth in the offer to purchase and consent solicitation statement dated April 15, 2024 (the “Statement”).
- Holders may not deliver consents to the Proposed Amendments in the Consent Solicitation without tendering Masonite Notes in the Tender Offer, and may not tender Masonite Notes in the Tender Offer without delivering consents to the Proposed Amendments in the Consent Solicitation.
- The Tender Offer and Consent Solicitation are conditioned upon, among other conditions, the consummation of the pending acquisition of Masonite by Owens Corning pursuant to the Arrangement Agreement, dated as of February 8, 2024 (as it may be amended, the “Arrangement Agreement”), by and among Owens Corning, MT Acquisition Co ULC, a wholly owned subsidiary of Owens Corning (“Purchaser”), and Masonite, which condition cannot be waived.
- Owens Corning has engaged Morgan Stanley & Co. LLC as Lead Dealer Manager and Solicitation Agent and Wells Fargo Securities, LLC as Co-Dealer Manager and Solicitation Agent for the Tender Offer.
Masonite International Corporation (NYSE: DOOR) today announced it will release first quarter 2024 financial results on Monday, May 6, 2024.
Key Points:
- Masonite International Corporation (NYSE: DOOR) today announced it will release first quarter 2024 financial results on Monday, May 6, 2024.
- Due to the pending transaction with Owens Corning previously announced on February 9, 2024, Masonite will not hold a live conference call to discuss its financial results.
- The transaction remains on track to close mid-2024, subject to Masonite shareholder approval, regulatory approvals, and other customary closing conditions.
- Additional information on the Company's results and the pending transaction are available at the SEC’s website at http://www.sec.gov and in our Quarterly Report on Form 10-Q expected to be filed with the SEC by May 8, 2024.
Under the terms of the agreement, DOOR shareholders are expected to receive $133.00 in cash per share they own.
Key Points:
- Under the terms of the agreement, DOOR shareholders are expected to receive $133.00 in cash per share they own.
- Under the terms of the agreement, FREE shareholders are expected to receive $4.875 in cash per share they own.
- Under the terms of the agreement, TAST shareholders are expected to receive $9.55 in cash per share they own.
- Before you hire a law firm, you should talk to a lawyer and ask:
Do you recover money for shareholders?
Kaman,
Investment management,
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Security (finance) If you are a Kaman shareholder, click here to learn more about your rights and options .
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- If you are a Haynes shareholder, click here to learn more about your rights and options .
- Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders.
- Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct.