The 2020 Mid-Year Economic Update_long

Builders FirstSource, BMC Stock Holdings Clear Key Hurdle

Building materials distributors, which will soon combine, announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Builders FirstSource

Builders FirstSource Inc. (Nasdaq: BLDR) and BMC Stock Holdings Inc. (Nasdaq: BMCH) announced Monday the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, effective on Nov. 13.

This concludes the Department of Justice’s HSR Act review of the proposed combination of the two companies. Builders FirstSource and BMC expect to close the transaction in late 2020 or the beginning of 2021, subject to the approval of the stockholders of each company, as well as the satisfaction or waiver of the remaining closing conditions.

The special meetings of each company’s respective stockholders relating to the proposed combination are scheduled to be held on Dec. 22. Each company has set the close of business on November 13, 2020, as the record date for determining its stockholders who are entitled to notice of, and to vote at, its stockholder meeting.

“We are pleased to receive this clearance,” said Chad Crow, CEO, Builders FirstSource. “We look forward to becoming the nation’s premier supplier of building materials, services and solutions when the transaction is completed. We are excited about the opportunities ahead and plan to quickly realize the benefits of this new, larger platform.”

Added Dave Flitman, CEO of BMC and future CEO of the combined company: “We are excited to take this additional step toward completing the strategic combination of two great organizations. Building on our shared commitment to helping customers thrive through our innovative services and solutions, we will have an expansive geographic footprint and enhanced local relationships in attractive, high-growth markets, allowing us to accelerate our growth strategy and create shareholder value.”

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