Woodgrain Affiliate Commences Offer for Huttig Shares - Modern Distribution Management

Log In

Woodgrain Affiliate Commences Offer for Huttig Shares

Woodgrain Inc. last month reached a deal to acquire Huttig Building Products for $350 million in an all-cash agreement.
Woodgrain Affiliate Commences Offer for Huttig Shares
Author
Date

Millwork operation Woodgrain Inc. said affiliate HBP Merger Sub, Inc. has commenced a cash tender offer for all issued and outstanding shares of common stock of Huttig Building Products, Inc., at a price of $10.70 per share — net to the seller — “in cash, without interest and less applicable withholding taxes.”

Woodgrain last month agreed to acquire Huttig Building Products for $350 million.

The $10.70 per share all-cash tender offer represents a premium of approximately 12.6% over Huttig’s closing share price on March 21, the final trading day before the acquisition was announced, Huttig said.

Huttig said the tender offer will expire “one minute after 11:59 P.M.” Eastern time April 25, unless the tender offer is extended in accordance with the terms of the merger agreement and the applicable rules and regulations of the SEC.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.