COURBEVOIE (dpa-AFX) - Saint-Gobain S.A. (CODGF.PK), a French maker of contraction materials, confirmed on Wednesday that issued A$9 per share cash offer to acquire Australian building materials firm CSR Ltd. (CSR.AX).
Saint Gobain said the non-binding indicative offer is aimed at an opportunity to enter the Australian market.
Saint-Gobain believes that 'the combination is an attractive opportunity for both companies leveraging our long-term partnership with similar business models, cultural fit, and development opportunities.'
The French company added that it is currently completing its final confirmatory due diligence on the offer.
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