Masonite approves big deal

Masonite International Corporation announced that its shareholders have voted to approve the company’s proposed transaction with Owens Corning at its Special Meeting of Shareholders.

As previously reported, under the terms of the transaction, Masonite shareholders will receive $133.00 per share in cash in connection with the closing of the transaction.

Howard Heckes, President and Chief Executive Officer of Masonite, said: “We thank our shareholders for their overwhelming support of this transaction. Together with Owens Corning, we will be even better positioned to continue transforming the door industry through the execution of our proven Doors That Do More strategy. We will continue working to complete the transaction and are committed to a smooth transition for our stakeholders.”

Masonite continues to expect to complete the transaction in mid-2024, subject to remaining regulatory approvals and other customary closing conditions including issuance of the final order by the Supreme Court of British Columbia approving the plan of arrangement.

Approximately 99% of the votes cast at the Special Meeting voted in favor of the transaction. Masonite will disclose the final vote results, as certified by the independent inspector of elections, on a Current Report on Form 8-K with the U.S. Securities and Exchange Commission.