The Azek Company Inc. (NYSE: AZEK) has announced that its stockholders have approved all proposals related to the company's proposed transaction with James Hardie Industries PLC. The transaction is expected to close on or about July 1, 2025, subject to the satisfaction or waiver of the closing conditions set forth in the merger agreement.
Approximately 99.96% of the votes cast at the special meeting voted in favor of the proposal to adopt the merger agreement, representing approximately 75.61% of Azek's total outstanding shares of common stock.
Azek, known for its low-maintenance and environmentally sustainable outdoor living products, including Timbertech® decking and railing, Versatex® and Azek® trim, and Struxure® pergolas, has been consistently awarded and recognized as the market leader in innovation, quality, aesthetics, and sustainability.
The company, which operates manufacturing and recycling facilities in various states across the United States, has recently been named one of America’s most responsible companies by Newsweek, a top workplace by the Chicago Tribune and U.S. News and World Report, one of Barron’s 100 most sustainable U.S. companies, and one of Time’s World’s Best Companies in Sustainable Growth for 2025.
This transformative moment for Azek, as stated by CEO Jesse Singh, comes as the company combines with James Hardie, aiming to bring together two purpose-driven teams with complementary capabilities, united by a commitment to innovation, sustainability, and long-term value creation. Singh emphasized that the combination enhances the company's ability to deliver more value to customers through expanded offerings, greater innovation, and continued best-in-class service.
The terms of the merger agreement state that Azek stockholders will receive $26.45 in cash and 1.0340 ordinary shares of James Hardie for each share of Azek common stock owned, upon the completion of the transaction.
With the approval of the stockholders, Azek is poised to move forward with this strategic transaction, which is expected to have a significant impact on the company's future operations and financial standing. Following these announcements, the company's shares moved 3.61%, and are now trading at a price of $54.86. If you want to know more, read the company's complete 8-K report here.
