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Nov. 12, 2019, 4:52 p.m. EST

Saint-Gobain to buy Continental Building Products

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By Maria Armental

Continental Building Products Inc. has reached a deal to be acquired by France's Compagnie de Saint-Gobain SA (SGO.FR), the Virginia-based company said Tuesday.

Under the terms of the deal, Continental would be merged into a newly formed subsidiary of Saint-Gobain, and the French multinational would pay $37 a share.

Continental's stock was boosted by a Bloomberg report on the deal, closing Tuesday at $35.75, up 12%.

Continental went public in 2013.

Write to Maria Armental at maria.armental@wsj.com

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