Why AZEK (AZEK) Stock Is Trading Up Today
Shares of outdoor living products manufacturer AZEK Company (NYSE:AZEK) jumped 23.6% in the afternoon session after James Hardie Industries offered to acquire the company (AZEK) in a cash and stock deal worth approx. $9 billion. The acquisition price implied a 26% premium to AZEK's average stock trading over the 30-day period before the deal became public.