Huttig Building Products to be bought by Woodgrain in $350M deal (NASDAQ:HBP)
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Huttig Building Products (NASDAQ:HBP) +10.7% post-market after disclosing in an 8-K filing that it agreed to be acquired by Woodgrain Inc. for $10.70/share, or ~$350M including the assumption of debt; shares resume trading after a halt.
The acquisition price comes at a 12.6% premium to the $9.50 closing stock price.
In its latest earnings report, Huttig said Q4 GAAP earnings came in at $0.25/share on revenues of $230M.
