Nucor (NUE) to Acquire Insulated Metal Panels Business from Cornerstone Building Brands for $1 Billion
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Nucor to Acquire Insulated Metal Panels Business from Cornerstone Building Brands
June 7, 2021 9:00 AM EDTCHARLOTTE, N.C., June 7, 2021 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that it has signed a definitive purchase agreement to acquire Cornerstone Building Brands' insulated metal panels (IMP) business for a cash purchase price of $1 billion, or approximately 10x pre-pandemic EBITDA inclusive of expected synergies. Adjusting for the net present value of associated tax benefits, the realized effective purchase price for Nucor is approximately $900 million. The transaction is expected to close later this year, pending regulatory approvals.
"Today's announcement accelerates our vision to broaden value-added solutions that Nucor... More
