StockNews.AI
AZEK
StockNews.AI
148 days

AZEK Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Sale of The AZEK Company to James Hardie Industries

1. AZEK agrees to sell to James Hardie for $26.45 and shares. 2. Proposed sale values AZEK at $56.88 per share based on conversions. 3. Sale price below targets set by nine Wall Street analysts. 4. Wohl & Fruchter investigates fairness of board's approval. 5. Shareholders encouraged to inquire about their legal rights.

M&A
+3.57%Current Return
VS
+0.34%S&P 500
$47.3303/24 12:48 PM EDTEvent Start
$49.0203/25 07:16 PM EDTLatest Updated
5m saved
Insight
Article

FAQ

Why Bearish?

The proposed sale price significantly undercuts analysts' targets, potentially leading to shareholder dissatisfaction. Historical acquisitions often see similar situations leading to stock drops.

How important is it?

The investigation's implications could directly alter AZEK's market perception and investor confidence, significantly affecting pricing dynamics in the near term.

Why Short Term?

The immediate reaction to the proposed sale and potential legal implications will influence short-term stock performance. Historically, such investigations often result in fluctuations as shareholders react.

Related Companies

JHXAAPLBA
MONSEY, N.Y., March 24, 2025 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of The AZEK Company, Inc. (NYSE: AZEK) (“AZEK”) to James Hardie Industries (“James Hardie”) for $26.45 in cash and 1.0340 ordinary shares of James Hardie to be listed on the New York Stock Exchange (NYSE) for each share of AZEK common stock. According to a press release announcing the deal, the stock and cash consideration represents a total value of $56.88 per share, based on the closing stock price of AU$46.80 per share of James Hardie’s CHESS Depositary Interest (CDI) listing on the Australian Securities Exchange (ASX) on March 21, 2025. Notably, as detailed below, the sale price is below the price target for AZEK of at least nine Wall Street analysts (source: TipRanks). If you remain an AZEK shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge: https://wohlfruchter.com/cases/the-azek-company/ Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com. Why is there an investigation?On March 24, 2025, AZEK announced that it had agreed to be sold to James Hardie for $26.45 in cash and 1.0340 ordinary shares of James Hardie to be listed on the New York Stock Exchange (NYSE) for each share of AZEK common stock. According to a press release announcing the deal, the stock and cash consideration represents a total value of $56.88 per share, based on the closing stock price of AU$46.80 per share of James Hardie’s CHESS Depositary Interest (CDI) listing on the Australian Securities Exchange (ASX) on March 21, 2025. Notably, the sale price is below the price target for AZEK of at least nine Wall Street analysts following AZEK: Matthew Bouley of Barclays ($64.00 per share target)Philip NG of Jefferies ($64.00 per share target)Truman Patterson of Wolfe Research ($62.00 per share target)Michael Rehaut of J.P. Morgan ($61.00 per share target)Keith Hughes of Truist Financial ($61.00 per share target)Anthony Pettinari of Citi ($60.00 per share target)Susan Maklari of Goldman Sachs ($59.00 per share target)Timothy Wojs of Robert W. Baird ($58.00 per share target)Michael Dahl of RBC Capital ($58.00 per share target) (source: TipRanks) “We are investigating whether the AZEK Board of Directors acted in the best interests of AZEK shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to AZEK shareholders, as well as whether all material information regarding the transaction has been fully disclosed.” About Wohl & Fruchter Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners. Contact:Wohl & Fruchter LLPJoshua E. Fruchter Toll Free 866.833.6245alerts@wohlfruchter.com www.wohlfruchter.com

Related News