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.
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