JELD-WEN (JELD) announced that, in compliance with the court-ordered divestiture of its Towanda, Pennsylvania business and related assets, JELD-WEN has entered into an asset purchase agreement for the sale of Towanda to Woodgrain for approximately $115M, subject to certain adjustments and closing conditions. “After many years of working through the court-ordered divestiture of Towanda, we have now reached an important inflection point in this process. We continue to evaluate our options in this unprecedented legal proceeding, but following a thorough review, we have concluded that it is in the best interest of the Company and its stakeholders to proceed with closing the transaction at this time. Regardless, JELD-WEN is well positioned to continue to service and supply its door customers at the high level they have come to expect from us,” said Chief Executive Officer William Christensen.
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Read More on JELD:
- Jeld-Wen price target lowered to $14 from $17 at B. Riley
- Jeld-Wen price target lowered to $15 from $19 at UBS
- Jeld-Wen price target lowered to $9 from $13 at RBC Capital
- Jeld-Wen price target lowered to $10 from $13 at Barclays
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