James Hardie quietly discloses debt blowout in $14b Azek deal
James Hardie has been forced to borrow more money and seek financing from a larger number of banks to complete the $14 billion buyout of American outdoor deck company Azek, a transaction that is already opposed by many of the building materials giant's shareholders.
Documents filed with the Securities and Exchange Commission show the merger is expected to cost $US300.6 million ($467 million) to complete, almost entirely interest expenses related to a bridging loan. This is higher than the $US270.4 million investors were told earlier this year.
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Sydney Morning Herald
2 hours ago
- Sydney Morning Herald
People spent hours queueing, but In-N-Out's Aussie pop-up is more about business than burgers
It's not often you'll see people queue up to enter a pub before 9am on a weekday, but on Wednesday, Sydney's Coogee Bay Hotel was no ordinary pub. It was, for those who had at least $8 and time to spare, perhaps their only chance to taste American chain In-N-Out Burger for themselves. Should the fast food franchise decide to bolster its fleet of 418 United States stores with a permanent outpost on Australian shores, it's clear that decision would be warmly received by foodies. But the suits behind the cult brand have been sitting on that knowledge, without acting on it, for more than a decade. Last year, hundreds of Canberrans waited more than two hours in the blazing February sun for a chance to taste the signature 'Animal Style' burger. A week later, the same thing happened in Brisbane; the year before, all menu items sold out in Melbourne within half an hour, and in 2016, Sydneysiders were turned away 30 minutes before a Surry Hills pop-up even opened because it had already sold out. In-N-Out Burger − which has held various trademarks in Australia since 1993 − has known demand is present Down Under since its first Australian pop-up in 2012. Unlike compatriots Five Guys, Wahlburgers, Hungry Jack's (FKA Burger King) and Wendy's, however, a bricks-and-mortar store lasting more than six hours has yet to materialise on our boundless plains.
The Age
2 hours ago
- The Age
People spent hours queueing, but In-N-Out's Aussie pop-up is more about business than burgers
It's not often you'll see people queue up to enter a pub before 9am on a weekday, but on Wednesday, Sydney's Coogee Bay Hotel was no ordinary pub. It was, for those who had at least $8 and time to spare, perhaps their only chance to taste American chain In-N-Out Burger for themselves. Should the fast food franchise decide to bolster its fleet of 418 United States stores with a permanent outpost on Australian shores, it's clear that decision would be warmly received by foodies. But the suits behind the cult brand have been sitting on that knowledge, without acting on it, for more than a decade. Last year, hundreds of Canberrans waited more than two hours in the blazing February sun for a chance to taste the signature 'Animal Style' burger. A week later, the same thing happened in Brisbane; the year before, all menu items sold out in Melbourne within half an hour, and in 2016, Sydneysiders were turned away 30 minutes before a Surry Hills pop-up even opened because it had already sold out. In-N-Out Burger − which has held various trademarks in Australia since 1993 − has known demand is present Down Under since its first Australian pop-up in 2012. Unlike compatriots Five Guys, Wahlburgers, Hungry Jack's (FKA Burger King) and Wendy's, however, a bricks-and-mortar store lasting more than six hours has yet to materialise on our boundless plains.
Daily Telegraph
6 hours ago
- Daily Telegraph
Famous US burger chain opens pop-up in Sydney for one day only
Don't miss out on the headlines from Eat. Followed categories will be added to My News. A popular American fast-food chain will launch a pop-up store in Sydney today, opening for a one-day-only event. Fans of In-N-Out Burger will have the opportunity to snag some of the chain's most popular menu items at the Coogee Bay Hotel from 9am to 3pm or until sold out on June 11. A spokesperson for Coogee Bay Hotel has told that crowds were already lining up before the opening time. 'The international In'N'Out team have flown out to run the pop-up,' they explained. So Aussies who have tried the American burgers can rest assured they'll be the same ones they know and love. In-N-Out Burger is popping up in Sydney today. Picture: Instagram/InAndOutBurger The pop-up will be serving up In-N-Out's famous Double-Double burgers, featuring two beef patties, two slices of American cheese, lettuce, tomato, onions, and the brand's signature sauce. Also available will be the Animal Style burger from the chain's 'hidden' menu, which features mustard-cooked beef patties, extra melted cheese, grilled onions, pickles, and an extra dollop of the special sauce. People were already lining up before 10am. Picture: Supplied It's a one day only event. Picture: Supplied For those wishing to forgo the carbs, the Protein Style burger is also available, replacing the bun with lettuce wraps. 'For those who have not yet experienced In-N-Out Burger, be sure to come and check us out at this special promotional event,' the chain said in an Instagram post on the Coogee Bay Hotel's page. The famous burgers will be available at Coogee Bay Hotel from 9am. Picture: Instagram/InNOutBurger Aussies were thrilled at the news, taking to social media to share their excitement. 'This is so exciting!' said one. 'Yes, please,' another wrote. However, others anticipated that the burgers would sell out before many people had the chance to get their hands on one. 'Let us know if (when) it sells out at 10:30am so we don't waste a drive,' said one. Someone else said so many people will have 'FOMO', so will line up for hours and hours, only to be disappointed. The burgers will be available until sold out. Picture: Instagram/CoogeeBayHotel Although there's no permanent outlet in Australia, previous In-N-Out pop-ups have proved popular and sparked calls for the chain to be introduced in the country. In-N-Out is a family-owned and operated burger restaurant, established in California in 1948. It has become renowned for not using any frozen products, meaning that all of its menu items are prepared fresh. The main menu consists of burgers, chips, and milkshakes. Originally published as Famous US burger chain opens pop-up in Sydney for one day only
