RTTNews | Aug 27, 2020 10:34AM EDT

10:33 Thursday, August 27, 2020 (RTTNews.com) - Shares of BMC Stock Holdings, Inc. (BMCH) are rising more than 17% Thursday morning on the news of its merger with building materials maker Builders FirstSource Inc. (BLDR).

The stock hit a new high of $40.09 this morning.

Both the companies have agreed to merge in an all-stock transaction by which BMC shareholders will receive 1.3125 shares of Builders FirstSource stock for each BMC share.

The combined company expects annual cost synergies of $130 million to $150 million by third year.

Read the original article on RTTNews ( https://www.rttnews.com/3124431/stock-alert-bmc-stock-holdings-at-new-high-on-merger-news.aspx)

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