Owens Corning and Masonite Announce Successful Results of Early Participation in and Amend the Terms of Exchange Offer and Consent Solicitation
Written by Emily J. Thompson, Senior Investment Analyst
Source: newsfilter
- Owens Corning and Masonite Exchange Offer: Owens Corning and Masonite announced the successful receipt of consents for proposed amendments to Masonite's 3.50% Senior Notes due 2030, leading to the execution of a supplemental indenture.
- Amended Terms of Exchange Offer: The terms of the Exchange Offer and Consent Solicitation have been amended to increase consideration for Eligible Holders who tender their Existing Masonite Notes after the Early Participation Deadline.
- Eligibility and Conditions: Eligible Holders must tender Existing Masonite Notes to participate in the Consent Solicitation and vice versa. The Exchange Offer is contingent on the consummation of an Arrangement between Owens Corning and Masonite.
- Settlement Dates and Considerations: The Total Consideration or Exchange Consideration will be paid to Eligible Holders based on the principal amount of Existing Masonite Notes tendered and accepted. Settlement dates include an Early Settlement Date and a Final Settlement Date.
- Forward-Looking Statements and Legal Information: The communication contains forward-looking statements regarding the Transaction between Owens Corning and Masonite, along with legal disclaimers about offers, solicitations, and securities laws compliance.
Analyst Views on OC
Wall Street analysts forecast OC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OC is 143.09 USD with a low forecast of 113.00 USD and a high forecast of 180.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
7 Buy
6 Hold
0 Sell
Moderate Buy
Current: 124.730
Low
113.00
Averages
143.09
High
180.00
Current: 124.730
Low
113.00
Averages
143.09
High
180.00
About OC
Owens Corning is a building products company. The Company's segments include Roofing, Insulation and Doors. The Company's Roofing segment manufactures and sells residential roofing shingles, oxidized asphalt materials, roofing components and composite lumber primarily used in residential construction. This segment also manufactures and sells glass mat and specialty veil materials used in building and construction applications. Its Insulation segment manufactures and sells thermal and acoustical batts, loose fill insulation, spray foam insulation, wet used chopped strand, foam sheathing and accessories. It also manufactures and sells glass fiber pipe insulation, energy efficient flexible duct media, bonded and granulated stone wool insulation, cellular glass insulation, and foam insulation used in above- and below-grade construction applications. The Company's Doors segment manufactures and sells interior and exterior doors and door systems primarily used in residential construction.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
