Core Natural - CNR STOCK NEWS

Cornerstone Building Brands (NYSE: CNR) has signed a definitive agreement to sell its coil coatings business to BlueScope Steel for $500 million. This transaction includes the transfer of seven manufacturing facilities and approximately 570 employees. The coil coatings business generated net sales of about $214.9 million in 2021. The deal will further strengthen the long-term supply relationship between the two companies. The transaction is expected to close in 2022, pending regulatory approvals.

Cornerstone Building Brands (NYSE: CNR) announced the sudden passing of Art Steinhafel, President of U.S. Windows and Doors, on April 3, 2022, at the age of 53. CEO Rose Lee expressed deep condolences, highlighting Steinhafel's significant impact on colleagues and customers alike. Cornerstone Building Brands is the largest manufacturer of exterior building products for residential and low-rise non-residential buildings in North America, with a diverse product portfolio and over 20,000 employees across its operations.

Cornerstone Building Brands (NYSE: CNR) has announced its acquisition by Clayton, Dubilier & Rice in an all-cash deal valued at approximately $5.8 billion, including debt. Shareholders will receive $24.65 per share, a 16% premium over the stock's closing price on March 4, 2022, and 75% premium over February 4, 2022. The transaction, approved by the company's board and a special committee, is expected to close in the second or third quarter of 2022, pending regulatory approvals.

Cornerstone Building Brands reported a strong fourth quarter and full-year performance for 2021, achieving net sales growth of 23.5% and 20.9% respectively.

Net income for 2021 reached $665.9 million or $5.19 per diluted share, compared to a net loss of $482.8 million the previous year. The company completed the acquisition of Union Corrugating Company, enhancing its residential metal roofing offerings. Adjusted EBITDA for the year was $688.0 million, up 24.1% year-over-year, despite challenges from supply chain disruptions and labor shortages.

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.

Cornerstone Building Brands (NYSE: CNR) has received a non-binding acquisition proposal from Clayton, Dubilier & Rice (CD&R) offering $24.65 per share for all outstanding shares not owned by CD&R, which currently holds about 49%. The company formed a Special Committee to review this and any competing proposals. No definitive agreement is guaranteed, and trading in the stock should proceed with caution. A detailed proposal letter was filed with the SEC on February 13, 2022.

Cornerstone Building Brands (NYSE: CNR), North America's largest manufacturer of exterior building products, will report its Q4 2021 financial results on February 21, 2022, after market close. A conference call is scheduled for February 22, 2022, at 9:00 a.m. EST to discuss the results. Investors can access the financial results and participate in the call through their investor relations website. Replay options will be available until March 8, 2022. The company emphasizes its commitment to sustainability and ESG practices in its corporate culture.

Cornerstone Building Brands, Inc. (NYSE: CNR) has successfully acquired Union Corrugating Company Holdings, Inc. (UCC), enhancing its position in the metal roofing market. This acquisition aims to broaden the solutions available to customers, particularly in the growing residential metal roofing sector, allowing for increased manufacturing economies of scale. The transaction was financed using cash on hand, and UCC's financial performance will be integrated into Cornerstone's Commercial business segment.

Cornerstone Building Brands (NYSE: CNR) has appointed Jason Flack as President of the Stone Solutions business unit effective December 1, 2021. Flack brings over 20 years of experience from leading sales organizations in building materials and automotive sectors, including his previous role at Firestone Building Products. Under the leadership of Rose Lee, the CEO, the company aims to enhance customer partnerships and growth in the exterior building solutions market.