GCP - GCP Applied Technologies to be acquired by Saint-Gobain for $32/share in cash

Saint-Gobain will acquire GCP Applied Technologies (NYSE:GCP) for $32.00 per share, in cash, in a transaction valued at approximately $2.3B. The price represents a premium of 39% above the volume-weighted average price per GCP share for the 30-trading days ended on November 30, 2021. Transaction is expected to close in the second half of 2022, after GCP Applied Technologies shareholders’ and antitrust approvals. Simon Bates, President and Chief Executive Officer of GCP, commented: “Today opens an exciting new era in GCP’s rich history, for our shareholders, customers and employees. We are thrilled for GCP to join Saint-Gobain, the ideal strategic partner to support our growth. Thanks to its global platform, significant resources as well as commercial and innovation expertise, Saint-Gobain is perfectly positioned to ensure the success of GCP’s operations and people over the long term.” Shares up 14.4% premarket.

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GCP Applied Technologies to be acquired by Saint-Gobain for $32/share in cash