azek co inc. merger with james hardie clears antitrust hurdle

The AZEK Company Inc. (NYSE:AZEK), a $7.36 billion building products manufacturer currently trading at $51.54, announced that the proposed merger with James Hardie (NYSE:JHX) Industries plc has moved a step closer to completion. According to InvestingPro analysis, AZEK maintains a strong financial health rating, with liquid assets exceeding short-term obligations. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired as of 11:59 p.m. Eastern Time on June 2, 2025. This expiration satisfies one of the key conditions for the merger to proceed.

The merger agreement, initially signed on March 23, 2025, involves AZEK becoming an indirect wholly owned subsidiary of James Hardie through a merger with Juno Merger Sub Inc., a subsidiary of James Hardie. Both companies had filed the necessary documents under the HSR Act on May 1, 2025.

The completion of the merger is contingent upon meeting several conditions outlined in the agreement, including obtaining required regulatory approvals and stockholder consent. The registration statement for the merger was declared effective by the SEC on May 29, 2025, and relevant documents were distributed to AZEK stockholders around the same time.

This information is based on a press release filed with the SEC.

In other recent news, Azek Company Inc. reported its financial results for the second quarter of fiscal year 2025, surpassing earnings expectations with an adjusted earnings per share (EPS) of $0.45, compared to the forecasted $0.43. The company’s revenue also exceeded projections, reaching $452.2 million against a forecast of $445.72 million. Azek’s financial achievements were acknowledged by DA Davidson, which increased the company’s stock price target to $51 from $50, while maintaining a Neutral rating. The company launched several new products and expanded its recycling capabilities, which contributed to its strong performance. Additionally, Azek proposed a merger with James Hardie, aiming for significant cost and sales synergies. The company maintained its full-year guidance despite a slight dip in product sell-through during the early months of the year. Azek’s strategic moves in product distribution and partnerships have been well-received, indicating a positive outlook for the company’s current business strategy.

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