Business
Not even this could stop the Boral (ASX:BLD) share price tumbling lower
The Boral Limited (ASX: BLD) share price was out of form on Friday and dropped lower with the rest of the share market.
Not even a late announcement could stop the building materials company’s shares from falling 2% to $4.82.
What did Boral announce?
This afternoon Boral announced that together with its joint venture partner, an affiliate of Lone Star Funds, it has agreed to sell the North American based Meridian Brick business to Wienerberger.
According to the release, the parties have agreed a consideration of US$250 million, which remains subject to customary adjustments. This equates to US$125 million for Boral’s 50% share, prior to any adjustments.
Subject to exchange rates and final adjustments, the company is expecting…
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