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12 minutes ago
- Yahoo
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
Yahoo
15 minutes ago
- Yahoo
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.
Yahoo
16 minutes ago
- Yahoo
Ex Pittsburgh Steelers QB Russell Wilson Defends Departed Star Wideout George Pickens
Ex Pittsburgh Steelers QB Russell Wilson Defends Departed Star Wideout George Pickens originally appeared on Athlon Sports. The Pittsburgh Steelers have cut ties with two of their biggest offensive tools from last season. Advertisement Quarterback Russell Wilson was not offered a new contract after playing last season on a one-year deal, and George Pickens was traded away to the Dallas Cowboys. Wilson's time in Pittsburgh was up and down. He posted 2,482 yards with 16 touchdowns and five interceptions across 11 starts, but posted a 6-5 record after starting his season with six straight wins. Wilson took over for Justin Fields in the Week 7 win over the New York Jets. Wilson's top target last year was George Pickens, whose time in Pittsburgh wasn't just up and down; it was downright contentious. Now that they're both gone, Wilson spoke out about his feelings on Pickens and their time together in the Steel City. Advertisement "I love George," Wilson said this week on Carmelo Anthony's '7PM in Brooklyn' podcast. "His ability to catch the football is one of a kind. Anything in his vicinity, he's [going to] catch it. On a serious note, he's misunderstood. He wants to be great, you know? I think, also, his ability, where he can take it from not just being great, to being one of the world's best, I think he has that in him." Pickens had moments of brilliance on the field but also displayed childish tantrums. He had to be restrained on the sidelines more than once due to altercations with fans, and he drew numerous fines throughout his tenure. The Steelers saw all this as enough to move him and let him become the Cowboys' problem. Pickens seems happy in his new hometown, though. Advertisement "This game is just as much a business as it is football. It's kinda like out of my control," Pickens said. "I'm glad to be here in Dallas and able to continue the winning culture that they have." "Winning culture?" Ok, George. We'll take your word for it. Related: Ex Seahawks WR Disrespects 'Overrated' DK Metcalf Related: Steelers Continue Roster Changes with UDFA Cut This story was originally reported by Athlon Sports on May 31, 2025, where it first appeared.