April 5, 2018 / 1:23 PM / 6 months ago

BUZZ-GMS rises after Canadian wallboard distributor acquisition

** Wallboard distributor’s shares up 9 pct at $32.5 premarket after agreeing to acquire Canadian peer WSB Titan for about $627 mln

** Says deal will make combined company largest wallboard distributor in North America

** Expects to capture cost synergies of at least $10 mln within the first full year following close of transaction

** Ties up full debt financing for deal; existing Titan management will roll over $35 mln of current ownership into GMS stock

** Shares down 21 pct YTD (Reporting by Uday Sampath in Bengaluru)

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