Republic Group's shareholders will receive $19 a share in cash at the sale's closing, expected by the end of the year, Republic said. The transaction is valued at approximately $410 million (including debt).
Republic Group said it has a backup agreement with Dallas- based Centex Construction Products Inc. to be acquired for $17.50 a share. The Centex agreement would go into effect only if the Premier purchase isn't completed, Republic said.
Faced with declining profits because of lower prices and slowing sales of gypsum wallboard, Republic Group said last month it was considering a sale or merger.
Republic Group Incorporated and its wholly-owned operating subsidiaries -- Republic Paperboard Company, Republic Fiber Company, and Republic Gypsum Company -- are manufacturers and marketers of 100% recycled paperboard, recovered paper fiber and gypsum wallboard, servicing markets nationwide.
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