60% paid in shares, 40% in cash (Il Sole 24 Ore Radiocor) - London, 22 Apr - The US supplier of building material Quanex has reached an agreement to buy the UK supplier of doors and windows Tyman for 788 million pounds in cash and shares, according to a statement.

Tyman shareholders will be entitled to receive 240.0 pence in cash and 0.05715 of a new Quanex share for every share held.

The offer represents an implied value of 400 pence per Tyman share.

The cash component represents about 60% of the offer and the stock component the remaining 40%.

AAA-Web

(RADIOCOR) 22-04-24 08:49:56 (0132) 5 NNNN