Masonite International Corp (DOOR)

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Why is Masonite International Corp (DOOR) Stock down?

We've noticed a 5.78% decline in Masonite International Corp (DOOR) stock during the 2023-12-20 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

18 Dec, 2023:

Shares of Masonite International Corp (DOOR) dropped by 15.97% from $102.00 to $85.71 in the trading on Monday, December 18, 2023. The reason why DOOR down today is due to the announcement of Masonite's acquisition of PGT Innovations for $3.0 billion. PGT Innovations shareholders will receive $41.00 per share, a 24% premium, with a combination of cash and Masonite shares. The deal provides Masonite with complementary product offerings, geographic expansion, and cost-saving opportunities, with a strong financial impact expected. The transaction is set to close in mid-2024, subject to approvals. Jefferies LLC advised Masonite on the deal.