News: BLD Australia's Boral to buy Headwaters for $2.6 bln

SYDNEY, Nov 21 (Reuters) - Australian building materials company Boral Ltd (BLD) said Monday it agreed to buy U.S. firm Headwaters Inc HW.N for $2.6 billion.

The purchase offer, which is subject to the approval of Headwaters shareholders and regulatory approval, will be funded by a share issue, borrowing and Boral's existing cash, Boral said in an announcement to the Australian stock exchange.

The acquisition would more than double the size of Boral's U.S. business, the company said.