Boral Buys Headwaters
An Australian company has taken a major interest in President-elect Donald Trump’s campaign commitment to invest in U.S. infrastructure.
According to a Bloomberg report, Headwaters’s businesses are “highly complementary with Boral’s existing U.S. operations – in fly ash, roofing, stone and light building products,” CEO Mike Kane said in the statement. The deal is expected to deliver savings of $100 million a year within four years, he said.
The deal, which has an enterprise value of $2.6 billion, is expected to be completed mid-2017. Bloomberg said the deal seeks to benefit from an increased infrastructure spending promised by President-elect Donald Trump, who has pledged a $1 trillion program to rebuild highways, tunnels, bridges and airports.
Read the full story at Bloomberg.