James Hardie Shares Plunge 10% on Monday Amid AU$8.75 Billion AZEK Acquisition Deal

Mon 24 Mar 25, 01:21 AM | Team Kalkine

Image source: Shutterstock

Highlights

Sharp Decline: James Hardie Industries' shares fell 10.3% to AU$42, hitting their lowest level since 7 November 2023.

Major Acquisition: The company announced an $8.75 billion cash-and-stock deal to acquire outdoor products manufacturer AZEK Company.

Market Impact: The stock is down 15.1% year-to-date, significantly underperforming the ASX 200 index’s 3.1% decline.

Shares of James Hardie Industries (ASX:JHX) plunged 10.3% on Monday to AU$42, marking their lowest level in more than four months. The sharp decline came in response to the company’s announcement of an $8.75 billion acquisition of AZEK Company, a move that has sparked concerns among investors over the financing of the deal.

The fiber cement manufacturer’s stock was among the top five losers on the benchmark ASX 200 index, reflecting cautious market sentiment. James Hardie intends to fund the cash portion of the acquisition through debt financing, with a fully committed bridge financing facility already secured.

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