For all the investor opprobrium over its proposed acquisition of Chicago-headquartered decking business Azek, James Hardie shares appear to be on something of a comeback in the days after the deal was sealed.
To recap, James Hardie is shifting its primary listing from the ASX to New York and merging with Azek in a buyout worth $14 billion. Its shareholders have had no say whatsoever over this, with the deal structured by Jefferies bankers to only require approval from Azek investors. That came late last month, removing any uncertainty about the direction of the deal.
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