Investigation into the Fairness of AZEK’s Proposed Sale to James Hardie Industries
Monsey, NY, March 24, 2025 – The law firm of Wohl & Fruchter LLP, known for its expertise in securities litigation, has announced that it is launching an investigation into the proposed sale of The AZEK Company, Inc. (AZEK) to James Hardie Industries (James Hardie). The deal, which values AZEK at approximately $2.1 billion, is expected to close in the second quarter of 2025.
Background of the Proposed Sale
Under the terms of the merger agreement, AZEK stockholders will receive $26.45 in cash and 1.0340 ordinary shares of James Hardie for each share of AZEK common stock. The transaction is subject to customary closing conditions, including regulatory approvals and the approval of AZEK’s stockholders. AZEK’s board of directors has unanimously approved the deal.
The Role of Wohl & Fruchter LLP
Wohl & Fruchter LLP is investigating whether the proposed sale price fairly represents the value of AZEK’s stock. The law firm is encouraging investors who have purchased AZEK securities between February 1, 2023, and the announcement of the merger on March 22, 2025, to contact the firm for a confidential discussion. The investigation will focus on whether AZEK’s board of directors breached their fiduciary duties to the company’s stockholders.
Impact on Individual Investors
If you have invested in AZEK securities during the aforementioned period and believe that the proposed sale price undervalues the company, it is essential to understand the potential implications for your investment. The outcome of the investigation could result in a securities class action lawsuit, which may provide opportunity for recovery of losses.
- If a class action lawsuit is filed and certified, you may be eligible to join the class and participate in the recovery of damages.
- The case may take several years to resolve, and the outcome is uncertain. However, if the plaintiffs are successful, they may be able to recover damages on behalf of the class.
- It is important to note that joining a securities class action does not require you to be an active participant in the litigation. Your involvement would typically be limited to providing certain information about your investment in AZEK and potentially your contact information.
Impact on the World
The proposed sale of AZEK to James Hardie Industries could have far-reaching consequences, particularly in the building materials industry. The merger would combine two major players in the market, creating a larger entity with increased market share and potential for economies of scale. Some potential impacts include:
- Increased competition in the building materials industry, as the merged entity would have a broader product portfolio and potentially stronger market position.
- Potential job losses, as overlapping operations may be consolidated or eliminated.
- Possible price increases for consumers due to increased market power and reduced competition.
Conclusion
The investigation by Wohl & Fruchter LLP into the proposed sale of The AZEK Company, Inc. to James Hardie Industries is an important development for investors who have purchased AZEK securities during the specified period. The outcome of the investigation could provide opportunities for recovery of losses, and it is essential for investors to be aware of the potential implications for their investments. Additionally, the merger could have far-reaching consequences for the building materials industry and consumers, and it will be crucial to monitor developments closely.
If you have any questions or would like to discuss the potential impact of the investigation on your investments, please do not hesitate to contact Wohl & Fruchter LLP for a confidential consultation.
