Masonite shareholders approve Owens Corning transaction

Masonite International Corporation shareholders (approximately 99 percent) have voted to approve the company’s proposed transaction with Owens Corning under which Owens Corning will acquire all outstanding shares of Masonite for $133.00 per share.

The acquisition will better position Masonite, together with Owens Corning, to execute its Doors That Do More strategy, says Howard Heckes, president and CEO of Masonite. Additionally, it will strengthen Owens Corning’s market position in residential building materials and extend its offering of highly valued products and brands.

Founded in 1925, Masonite designs, manufactures, and markets doors and door systems, with a vertically integrated manufacturing model serving both repair and remodel and new construction demand. Masonite operates 64 manufacturing and distribution facilities, primarily in North America, and has over 10,000 employees globally. 

The transaction is expected to close mid-2024.