Stock Groups

Saint-Gobain announces acquisition of GCP Applied Technologies

by Mike Robinson

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© Reuters. On February 19, 2018, the Saint-Gobain logo can be seen at the headquarters of the company in Courbevoie’s La Defense district, just outside Paris. REUTERS/Gonzalo Fuentes

PARIS, (Reuters) – French construction company Saint-Gobain announced Monday that it would buy all of GCP Applied Technologies shares (NYSE) in a deal which values the target U.S.-based company at approximately 2.3 Billion dollars.

Saint-Gobain, in a statement, called the transaction “a landmark” that will make it a world leader in building chemicals. He also stated that both boards have approved the agreement.

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