Owens Corning agreed to acquire Masonite International Corporation for $133 per share, totaling around $5.29 billion (US$3.9 billion). This acquisition, a 38% premium over Masonite's closing price on February 8, 2024, and 46% over its 20-day average, reflects an 8.6x multiple of Masonite's projected 2023 EBITDA, reducing to 6.8x post-synergies. Owens Corning aims to enhance its residential building materials sector, banking on Masonite's innovative door solutions to expand its product range and market presence. Masonite, with a history dating back to 1925, has over 10,000 employees and 64 facilities, primarily in North America. The deal, expected to close mid-2024, requires Masonite shareholder and regulatory approvals. Owens Corning plans to finance it through cash and $4 billion (US$3 billion) in debt, aiming for a net debt-to-EBITDA ratio of 2.0x by end-2024. Morgan Stanley and Lazard Freres advised Owens Corning, while Goldman Sachs and Jefferies advised Masonite. Legal counsel for Owens Corning was provided by Davis Polk & Wardwell and Stikeman Elliott, with Wachtell, Lipton, Rosen & Katz and Cassels Brock & Blackwell advising Masonite.