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Cornerstone Building Brands, Inc. (NYSE: CNR) has rescheduled its 2021 fourth-quarter financial results release from February 21, 2022, to March 1, 2022. This announcement coincides with the filing of its Annual Report on Form 10-K for the fiscal year ending December 31, 2021. Additionally, following a non-binding acquisition proposal from Clayton, Dubilier & Rice, the company has canceled its conference call that was scheduled for February 22, 2022.
Positive
Scheduled release of 2021 financial results for March 1, 2022, indicating timely reporting.
Non-binding proposal of $24.65 per share for acquisition shows interest from investors.
Negative
Cancellation of the conference call may limit investor engagement and transparency.
CARY, N.C.--(BUSINESS WIRE)--
Cornerstone Building Brands, Inc. (NYSE: CNR), the largest manufacturer of exterior building products in North America, today announced that it has rescheduled its release of 2021 fourth-quarter financial results from Monday, February 21, 2022, to Tuesday, March 1, 2022, when it plans to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2021.
Additionally, following the Company’s announcement on February 14, 2022, of its receipt of a non-binding last and final proposal from funds affiliated with Clayton, Dublier & Rice, LLC (“CD&R) to acquire all of the Company’s outstanding shares of common stock that CD&R does not already own for $24.65 in cash per share, the Company has canceled its conference call scheduled for 9:00 a.m. EST on Tuesday, February 22, 2022.
About Cornerstone Building Brands
Cornerstone Building Brands is the largest manufacturer of exterior building products for residential and low-rise non-residential buildings in North America. Headquartered in Cary, N.C., we serve residential and commercial customers across the new construction and repair and remodel markets. Our market-leading portfolio of products spans vinyl windows, vinyl siding, stone veneer, metal roofing, metal wall systems and metal accessories. Cornerstone Building Brands’ broad, multichannel distribution platform and expansive national footprint includes more than 20,000 employees at manufacturing, distribution and office locations throughout North America. Corporate stewardship and environmental, social and governance (ESG) responsibility are deeply embedded in our culture, and we are committed to contributing positively to the communities where we live, work and play. For more information, visit us at www.cornerstonebuildingbrands.com
When will Cornerstone Building Brands release its Q4 2021 financial results?
Cornerstone Building Brands will release its Q4 2021 financial results on March 1, 2022.
What is the acquisition proposal for CNR?
The acquisition proposal for Cornerstone Building Brands is a non-binding offer from Clayton, Dubilier & Rice to buy outstanding shares at $24.65 per share.
Why was the conference call on February 22, 2022, canceled?
The conference call was canceled following the announcement of the acquisition proposal.
