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Building materials maker Builders FirstSource to buy BMC Stock Holdings

Credit: REUTERS/DADO RUVIC

August 27, 2020 — 06:45 am EDT

Written by Ankit Ajmera for Reuters ->

Aug 27 (Reuters) - U.S. residential building materials maker Builders FirstSource Inc BLDR.O said on Thursday it has agreed to buy smaller rival BMC Stock Holdings Inc BMCH.O in an all-stock deal.

BMC shareholders will receive 1.3125 shares of Builders FirstSource stock for each BMC share. Builders FirstSource's offer of $36.63 represents a premium of nearly 14% to BMC's Wednesday's close.

The combined company will have a market capitalization of $5.44 billion.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Aditya Soni)

((ankit.ajmera@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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