Latest news with #JamesHardieIndustriesPlc
Bloomberg
27-04-2025
- Business
- Bloomberg
ASX to Review Listing, Waiver Rules After James Hardie Deal
The Australian Stock Exchange will review requirements for shareholder approvals in mergers and acquisitions, following James Hardie Industries Plc 's A$14 billion ($9 billion) deal in March to take over AZEK Co. In a statement on Sunday, the ASX said Australian institutional investors had voiced concerns about current shareholder approval requirements and that the exchange would update an analysis from 2017.
Yahoo
24-03-2025
- Business
- Yahoo
Bearish James Hardie Bet Traded Before Deal News Sank Stock
(Bloomberg) -- A block of bearish James Hardie Industries Plc options changed hands just before the Australian building-products producer said it would buy Chicago-based AZEK Co., sending its stock sinking. They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Chicago Transit Faces 'Doomsday Scenario,' Regional Agency Says LA Faces $1 Billion Budget Hole, Warns of Thousands of Layoffs New York Subway Ditches MetroCard After 32 Years for Tap-And-Go Despite Cost-Cutting Moves, Trump Plans to Remake DC in His Style A block of 3,000 James Hardie A$43 puts expiring in May traded late Friday for A$14 million in notional value, data compiled by Bloomberg show. The position was new, with an exercise price 8.1% below that day's closing stock level. On Monday, James Hardie's shares slumped as much as 14% to as low as A$40.04 after the deal's announcement. For the company, which already generates three-fourths of its revenue from North America, the agreement represents an even larger bet on the US housing market amid economic uncertainty fueled by President Donald Trump's policies. Its chief executive officer defended the deal, saying he was focused on longer-term opportunities. Also read: James Hardie CEO Defends $8.75 Billion AZEK Deal as Stock Slumps James Hardie's shares had been under pressure. The stock posted its biggest two-day plunge in 10 months last week and closed at its lowest price since July on Thursday — just before the bearish bet was made. That day, put volume reached the highest level of the year. A New 'China Shock' Is Destroying Jobs Around the World How TD Became America's Most Convenient Bank for Money Launderers Tesla's Gamble on MAGA Customers Won't Work One Man's Crypto Windfall Is Funding a $1 Billion Space Station Dream The Real Reason Trump Is Pushing 'Buy American' ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
24-03-2025
- Business
- Bloomberg
Bearish James Hardie Bet Traded Before Deal News Sank Stock
A block of bearish James Hardie Industries Plc options changed hands just before the Australian building-products producer said it would buy Chicago-based AZEK Co., sending its stock sinking. A block of 3,000 James Hardie A$43 puts expiring in May traded late Friday for A$14 million in notional value, data compiled by Bloomberg show. The position was new, with an exercise price 8.1% below that day's closing stock level. On Monday, James Hardie's shares slumped as much as 14% to as low as A$40.04 after the deal's announcement.
