Spinoffs & Takeovers Hotline – Friday, April 4, 2025
Article Excerpt
AZEK COMPANY INC., $48.35, symbol AZEK on New York, manufactures sustainable building products focused on the outdoor living market. The company was founded in 1983 in Chicago.
Azek operates two divisions: Residential, which includes its TimberTech and Azek Exteriors brands, makes capped polymer and capped composite decking, along with railing, porch, lighting and paver products, and exterior PVC trim and moulding; and Commercial, which manufactures low-maintenance bathroom partitions, shower and dressing stalls, lockers and other storage solutions for schools, arenas, and other commercial facilities.
Azek’s residential segment generates 95% of its sales, with the commercial division accounting for the remaining 5%. Azek’s residential segment sells its products through a network of more than 10,000 dealers and 40 distributors and home-improvement retailers in the U.S. and Canada.
On March 23, 2025, the company announced that it had agreed to sell itself to James Hardie Industries plc (symbol JHX on New York) for $8.75 billion.
Azek shareholders will receive $26.45 a share in cash plus 1.0340…
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