GCP Applied Technologies Inc.

GCP Applied Technologies Inc. announced that it entered into a definitive agreement pursuant to which Saint-Gobain will acquire all of the outstanding shares of GCP Applied Technologies for $32 per share, in cash, in a transaction valued at approximately $2.3 billion (approximately €2 billion).

The agreed upon price represents a premium of 39% above the volume-weighted average price per GCP share for the 30-trading days ended on the undisturbed date of Nov. 30, 2021. 

The acquisition, "opens an exciting new era in GCP’s rich history, for our shareholders, customers and employees," said Simon Bates, president and CEO of GCP.

“The acquisition of GCP is an excellent and significant step for Saint-Gobain to further reinforce its worldwide leadership in construction chemicals and strengthen its geographic presence in North America and emerging markets, both objectives being at the core of our 'Grow & Impact' strategic plan," added Benoit Bazin, CEO of Saint-Gobain.