RTTNews | Jun 7, 2021 10:08AM EDT

10:08 Monday, June 7, 2021 (RTTNews.com) - Cornerstone Building Brands, Inc. (CNR) shares are rising on Monday morning trading after the company announced a definitive agreement to sell its Insulated Metal Panels business to Nucor Insulated Panel Group Inc and certain of its subsidiaries in a cash transaction for $1 billion.

The manufacturer of exterior building products said the transaction includes products sold under the Metl-Span and CENTRIA brands. The Company will sell seven manufacturing facilities, three offices, and a product innovation center, all located in North America. The deal is expected to close in the second-half of 2021. Currently, shares are at $18.42, up 5.71 percent from the previous close of $17.43. For the 52-week period, the shares have traded in a range of $4.68-$18.71 on average volume of 1,080,430.

Read the original article on RTTNews ( https://www.rttnews.com/3200450/stock-alert-cornerstone-building-brands-gains-6-on-divestiture-of-metal-panels-business-for-1-bln.aspx)

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