Eagle Materials announces strategic portfolio review
Eagle Materials announced that its board and management team, with the support of independent financial and legal advisors, has commenced a strategic review of its portfolio of businesses: heavy materials, light materials, and oil and gas proppants. The company regularly evaluates its strategic, operational, financial and capital allocation policies for opportunities to enhance shareholder value. The Eagle board has decided to conduct this further review with its advisors following consultation and input from the company's largest shareholders. As part of the portfolio review, the company will carefully consider the full range of options focused on enhancing the value creation potential of Eagle, including separating the businesses and evaluating potential transactions, among other strategic and financial alternatives. The company may also, as appropriate, engage with third parties that could be participants in certain potential transactions. There can be no assurance that the strategic portfolio review will result in any particular action or that a transaction will be consummated, nor can there be any assurance regarding the timing of any action or transaction. The company does not intend to publicly discuss or disclose developments with respect to this process unless and until the board has approved a definitive action, or the process is otherwise concluded.