James Hardie Industries Stock Down on $8.75 Billion Deal to Buy AZEK .

Shares of James Hardie Industries fell sharply in premarket trading Monday after the company said it would acquire outdoor living products maker AZEK in an $8.75 billion deal.

Shares of James Hardie fell 11% ahead of the morning bell at $26.00. AZEK’s stock jumped nearly 19% to $49.12 a share.

Late Sunday, James Hardie said AZEK shareholders will receive $26.45 in cash and 1.034 shares in the company for each AZEK share they own. The deal is worth roughly $56.88 a share, a 26% premium to AZEK’s 30-day volume-weighted average price.

James Hardie’s shares have been under pressure so far in the year, down about 5% at Friday’s close at $29.28. Shares are down 26% over the past 52 weeks.

AZEK shares have also been under pressure in 2025, down nearly 13% to close on Friday at C$41.39. The shares are down 16% to C$41.39. The acquisition of AZEK, a maker of home decking, railing and pergolas, is expected to boost James Hardie’s sales, and create a business focused on home exteriors that will benefit from efficiencies of scale.

Source: Marketscreener