General Shale Brick, Inc. signed an agreement to acquire Meridian Brick LLC from Lone Star Americas Acquisitions, Inc. and Boral Limited (ASX:BLD) for approximately $250 million on December 18, 2020. The purchase price of $250 million is subject to customary adjustments. Boral will receive $125 million for it's 50% share in Meridian Brick LLC. The transaction consideration will be financed from existing credit lines. Meridian Brick generated revenues in excess of $400 million in the financial year to June 30, 2020. As part of this process, Meridian’s leadership was refreshed with the appointment of a new Chief Executive Officer in December 2018, and a stronger focus on improving performance. Meridian Brick employees will be joining General Shale. The transaction is subject to various closing conditions and regulatory approvals. The transaction is also subject to competition clearance and satisfaction of other conditions typical for a transaction of this nature. As of October 1, 2021, the Department of Justice announced that it will require General Shale Brick Inc. and Meridian Brick LLC to divest several assets used in the manufacture and sale of residential brick to proceed with the transaction. The Justice Department’s Antitrust Division filed a civil antitrust lawsuit in the U.S. District Court for the District of Columbia to block the proposed transaction. At the same time, the department filed a proposed settlement that, if approved by the court, would resolve the competitive harm alleged in the lawsuit. Under the terms of the proposed settlement, the parties must divest three manufacturing facilities, 14 distribution yards and showrooms, and six mines for extracting input materials used in the manufacture of residential brick to RemSom LLC or an alternative acquirer approved by the United States. Completion of the transaction is targeted to occur in the first half of 2021. As of January 8, 2021, the transaction is expected to close in the year 2021. As of June 9, 2021, the transaction is anticipated to complete in first quarter of fiscal year 2022. The acquisition will immediately double Wienerberger’s (parent entity of General Shale) North American revenues to greater than $800 million. Wienerberger AG expected EBITDA for North America is greater than $120 million post synergies by 2023. Goodmans LLP acted as legal advisor for General shale brick Inc. General Shale Brick, Inc. completed the acquisition of Meridian Brick LLC from Lone Star Americas Acquisitions, Inc. and Boral Limited (ASX:BLD) on October 6, 2021. The relevant antitrust authority, the U.S. Department of Justice, has granted its approval for the transaction subject to conditions that will be fulfilled by General Shale.