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Elon Musk had to 'outmaneuver the entrenched Democrats' in DC: Attorney

Elon Musk had to 'outmaneuver the entrenched Democrats' in DC: Attorney

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ASX-listed James Hardie secures $3.5 billion credit to fund AZEK deal
ASX-listed James Hardie secures $3.5 billion credit to fund AZEK deal

Yahoo

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ASX-listed James Hardie secures $3.5 billion credit to fund AZEK deal

(Reuters) -ASX-listed James Hardie said on Monday it had secured new senior credit facilities for a total of $3.5 billion with broad support, including 30 participating banks to support its operations and acquisition of U.S.-listed AZEK. The multi-billion dollar loan facility can be broken down into a $1 billion revolving credit facility and a $2.5 billion senior secured term loan A, split into two tranches. The fibre-cement maker had offered to buy the U.S. artificial decking maker for $8.75 billion in March, while markets were concerned about a slowdown in the U.S. housing sector. With the new credit facilities, bridge facility commitments with certain lenders in connection with the pending acquisition were reduced from $4.3 billion to $1.7 billion. New housing stock in the U.S. is near a two-decade high and tariffs and an immigration crackdown under President Donald Trump are seen as likely to slow construction further. In May, the building material firm forecast tepid earnings growth for its North American business, the company's biggest market and profit engine, while reporting a drop in annual profit. Back in Australia, market scrutiny has also increased on such large corporate buyouts after investors raised questions about the AZEK deal. In a separate announcement, James Hardie terminated its American depositary shares (ADS) program, believing it will become unnecessary after the company lists its share on the New York Stock Exchange. James Hardie's ASX-listed shares jumped as much as 3.2% to A$36.57, their highest level in over a week, and were last trading up 2.9%. The stock has lost more than 8% in value since the buyout deal was announced in March. Sign in to access your portfolio

Pittsburgh Steelers Continue Roster Changes with UDFA Cut
Pittsburgh Steelers Continue Roster Changes with UDFA Cut

Yahoo

time15 minutes ago

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Pittsburgh Steelers Continue Roster Changes with UDFA Cut

Pittsburgh Steelers Continue Roster Changes with UDFA Cut originally appeared on Athlon Sports. The Pittsburgh Steelers continue to make roster moves early in the offseason. On Thursday, Pittsburgh announced it released defensive end Blake Mangelson via its X account. Mangelson was signed as an UDFA on April 28 and participated in rookie minicamp and the first week of OTAs. Advertisement Before signing with the Steelers this offseason, Mangelson accepted an offer to the Minnesota Vikings' rookie minicamp but canceled when Pittsburgh came calling. The 23-year-old is a monster at 6-5, 279 pounds and played collegiately at BYU. Across four seasons, he posted 82 total tackles with 12 for loss, 2.5 sacks, one interception and four passes defended. His release brings the 90-man roster back down to 90 after wideout Montana Lemonious-Craig signed earlier this week, but Pittsburgh is technically allowed 91 players since Julius Welschof has a roster exemption with the NFL International Pathway Program. The Steelers are expected by some to sign veteran free agent quarterback Aaron Rodgers, so they now have a roster spot open for that, but even if Rodgers decides not to sign, the team has stated they'll add another veteran to compete with Mason Rudolph for the starting job. Advertisement It's also possible Pittsburgh re-signs Mangelson at some point this offseason after more cuts or an injury to a defensive lineman necessitates a need. The team typically retains six or seven on the regular-season 53-man roster, and after Mangelson's release, they currently have 12 with mandatory minicamp beginning on June 10. Related: Steelers Running Back Room Is Crowded Related: Steelers Trade Rumors Swirl as WR Emerges at OTAs This story was originally reported by Athlon Sports on May 31, 2025, where it first appeared.

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