Published: Nov 20, 2016 7:45 p.m. ET at MarketWatch

SYDNEY — Australia’s Boral Ltd. has signed a $1.86-billion deal to acquire Utah-based building products firm Headwaters Inc., doubling down on the U.S. as house construction ramps up and President-elect Donald Trump vows to boost infrastructure spending.

On Monday, Boral BLD, +0.16%   said it has signed a binding agreement to acquire the building products manufacturer, one of the largest sellers of fly ash in the U.S., for $24.25 a share in cash. That is a 34% premium to Headwaters’ HW, -0.59%   one-month volume weighted average price, it said.

The deal “increases Boral’s exposure to the U.S. building and construction markets, which are experiencing positive momentum,” Boral said.

The acquisition will double the size of Boral’s U.S. business and expands its reach in fly ash, “which will play favorably into the infrastructure spend under way in the U.S.,” Boral said. Fly ash is a byproduct of burning pulverized coal, and is most commonly used as a partial replacement for cement in producing concrete…. read more here