Alston & Bird client Boral Limited today closed its acquisition of Headwaters Inc. (NYSE: HW) for $1.8 billion.
On May 4, the U.S. Federal Trade Commission terminated the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 without requiring the parties to undertake any divestiture or other remedy. The FTC’s action came after Boral and Headwaters had previously received a “second request,” or request for additional information, from the FTC in February 2017.
Announced in November 2016, the acquisition will more than double the size of Boral’s U.S. operations. The Australian-based company is a leading supplier of building materials, and its purchase of Headwaters makes a strong strategic fit with Boral’s existing U.S. business, adding significant scale to the company’s U.S. footprint through complementary businesses with improved geographic reach and ability to compete across North America.
Alston & Bird advised Boral on this matter, led by antitrust partner Adam Biegel and corporate partner Darren Hauck, assisted by partners John Snyder and Leslie Overton and associates Hilla Shimshoni and Tony Greene (Antitrust) and attorney Victoria Kulik (Corporate & Business Transactions).