GCP Applied Technologies , a leading global provider of construction products, announced that the agreement to be acquired by Saint-Gobain has closed.
Saint-Gobain has acquired all of the outstanding shares of GCP Applied Technologies for $32.00 per share, in cash, in a transaction valued at approximately $2.3 billion. GCP will delist from the New York Stock Exchange.
The business combination has been unanimously approved by the Boards of Directors of Saint-Gobain and GCP Applied Technologies respectively. GCP’s well-respected brands and decades of experience will integrate with Saint-Gobain’s CertainTeed and Chryso businesses. GCP’s specialty building materials business in North America (c. $250 million of sales) will merge with the CertainTeed business, serving the marketplace in its Region. All other GCP businesses, consisting mainly of concrete admixtures and cement additives (c. $750 million of sales) will be combined with the Chryso business and be part of the High Performance Solutions segment.