Cornerstone Building Brands to go private

Cornerstone Building Brands announced it has reached an agreement that will see it acquired by affiliates of Clayton, Dubilier & Rice. The private equity firm currently holds a 49 percent stake in Cornerstone. It will pay approximately $5.8 billion to acquire the remainder in an all-cash transaction, making Cornerstone a privately held company. The purchase is expected to close in the second or third quarter of this year.