Mi windows and doors, llc completed the acquisition of milgard manufacturing incorporated from masco corporation (nyse:mas).

Mi windows and doors, llc signed a definitive agreement to acquire milgard manufacturing incorporated from masco corporation (nyse:mas) for approximately $730 million on september 29, 2019. the agreement contains certain customary termination rights for masco and mi windows, including if the closing does not occur on or before december 28, 2019, subject to certain extension rights. mi windows shall pay to masco a termination fee of $35 million in case of termination of the agreement. as part of the transaction, milgard team will join the mi windows family. the transaction is subject to the regulatory approval, other customary closing conditions, including the expiration or termination of the applicable waiting period under the hart-scott-rodino act. as of october 29, 2019, federal trade commission has granted early termination notice. the transaction is expected to complete during the fourth quarter of 2019. it was anticipated of using the proceeds to pay down $200 million debt maturity and for approximately $400 million of share repurchases. christopher m. cicconi of stevens & lee acted as legal advisor to mi windows. john d. amorosi, harold birnbaum, neil barr, ethan r. goldman, kyoko takahashi lin, david mollo-christensen, frank j. azzopardi and hilary dengel of davis polk & wardwell llp acted as legal advisors to masco. joshua rosenbaum and henry hank johnson of rbc capital markets, llc acted as financial advisors to masco corporation (nyse:mas) in the transaction. patrick curry of keybanc capital markets acted as financial advisor for mi windows and doors, llc. mi windows and doors, llc completed the acquisition of milgard manufacturing incorporated from masco corporation (nyse:mas) on november 7, 2019.
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