10 Stocks Outperform Broader Market Last Week

2. The AZEK Company Inc. (NYSE:AZEK)

The AZEK Company surged by 19.95 percent week-on-week to finish Friday’s trading at $49.65 versus $41.39 on March 21 following news that Australia-based building products firm James Hardie offered to buy the firm for $8.75 billion.

Under the agreement, AZEK shareholders will receive $26.45 in cash payments and 1.034 ordinary shares of James Hardie for each AZEK stock that they own. The transaction would allow James Hardie to gain a listing on the New York Stock Exchange.

This would result in the Australian firm owning around 74 percent of AZEK, with the remaining 26 percent to be owned by minority shareholders.

“The consumer journeys for siding and decking often overlap and both companies have excelled at demand creation for the homeowner and innovative products and solutions for the contractor,” James Hardie CEO Aaron Erter said in a statement.