Millwork operation Woodgrain Inc. said affiliate HBP Merger Sub, Inc. has commenced a cash tender offer for all issued and outstanding shares of common stock of Huttig Building Products, Inc., at a price of $10.70 per share — net to the seller — “in cash, without interest and less applicable withholding taxes.”
Woodgrain last month agreed to acquire Huttig Building Products for $350 million.
The $10.70 per share all-cash tender offer represents a premium of approximately 12.6% over Huttig’s closing share price on March 21, the final trading day before the acquisition was announced, Huttig said.
Huttig said the tender offer will expire “one minute after 11:59 P.M.” Eastern time April 25, unless the tender offer is extended in accordance with the terms of the merger agreement and the applicable rules and regulations of the SEC.
Related Posts
-
The two companies have reached an agreement that will allow Woodgrain to buy Huttig Building…
-
Building materials distributor Huttig Building Products reported 2021 3Q sales of $245.3 million, 15.3% above…
-
The distributor also reported that 2021 year-end net sales increased 18.4% to $937.8 million, compared…
