Saint-Gobain to acquire U.S. gypsum manufacturer

PARIS ― Saint-Gobain has reached a $1.4 billion agreement to purchase U.S.-based drywall maker Continental Building Products Inc. The deal will see Saint-Gobain pay $37 per share in cash, a premium of 3.5% on Continental’s closing share price early last week. Continental’s gypsum wallboard production will be folded into a Saint-Gobain unit to be newly created. Saint-Gobain aims to streamline some $50 million in costs through the transaction.