CRH plc has agreed to buy Arcosa Inc in an all-cash transaction valued at $8.3 billion to $8.5 billion. The deal offers Arcosa shareholders $150 per share, a 25 percent premium to the prior closing price.
The acquisition was announced on June 22. Shares of Arcosa rose 6.7 percent that day on the news.
Arcosa shareholders will receive fair value under the terms. The transaction remains subject to regulatory approvals and is expected to close in the future.
CRH management has outlined targets of 7 percent to 9 percent annual revenue growth and 22 percent to 24 percent EBITDA margins through 2030. The company projects synergies of $60 million in the first year after closing, rising to $175 million by year three.
