Nov 21 (Reuters) - Boral Ltd (BLD)
- Boral announces acquisition of Headwaters Inc
- Entered into a binding agreement to acquire Headwaters Incorporated for us$24.25 per share in cash
- deal for us$24.25 per share in cash, representing an aggregate enterprise value of about us$2.6 billion
- Eps accretive on a pro forma fy2017f NPATA basis
- Acquisition is expected to be completed in mid CY2017
- transaction unanimously approved by board of Headwaters
- Offer price represents a 34% premium on Headwaters' 1-month vwap of us$18.16
- Expect significant synergies of us$100 million per annum within four years of closing
- acquisition will be funded by a$450 million institutional placement & a$1.6 billion, 1 for 2.22 pro rata accelerated renounceable entitlement offer
- acquisition expected to be completed in mid cy2017
