Private disinterestedness aing Clayton, Dubilier & Rice ability accept antagonism for vinyl balustrade maker Ply Gem Industries, The Post has learned.
Rival PE aing Hellman & Friedman is belief a bid for Ply Gem that could top CD&R’s $2.4 billion accord for the Cary, NC, company, according to two sources accustomed with H&F’s thinking.
CD&R agreed on Jan. 31 to buy Ply Gem, which additionally makes vinyl and aluminum windows, for $21.64 per allotment — a 20 percent exceptional to its banal price.
CD&R is additionally in the action of affairs Atrium Windows & Doors — which it affairs to absorb with Ply Gem.
Ply Gem’s shares were trading Thursday morning at $21.45.
H&F is additionally alive in the barrio abstracts sector, owning vinyl windows and vinyl balustrade maker Associated Materials. The PE aing has started due activity on Ply Gem, sources said, but it has not yet absitively if it will accomplish a aggressive offer.
“They accept to move quickly,” one of the sources said, abacus he was not abiding H&F would accept a bigger action accessible in time to top battling CD&R.
CD&R is assured to aing the Ply Gem accord in the additional quarter, it said in a account back the accord was announced. It would be advantaged to a $45 actor alienation fee if the accord is upset.
Manhattan financier Fred Iseman owns the majority of Ply Gem’s shares and is accessible to a aggressive offer, sources said.
There was a time back PE firms did not jump anniversary other’s active deals, but that aphorism in contempo years has seemed beneath sacred.
H&F beneath comment. Ply Gem did not acknowledgment calls by columnist time.
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