Next warms up investors for SilverChef continuation | Rennie advisory hits acquisition trial | Investors fume over James Hardie deal

Good evening,

Somehow, several law firms in the United States are actually contemplating suing James Hardie’s $14 billion target – New York-listed building materials group Azek – because the price is too low. That must be a startling prospect for local investors, like Fidante Partners, who have voted with their feet and sent the James Hardie share price tumbling.

Not that many want to speak about it. Total silence from big James Hardie investors from AustralianSuper to Ausbil and Bennelong Funds Management on Monday. Still, a few are not so cowardly.

“It seems like James Hardie have thrown the kitchen sink at this acquisition and in doing so they will completely change the risk profile of the company,” said Preston Hamersley, of Perth’s Indian Pacific Funds Management.

Actually, he was scathing. The deal, Hamersley said, was one of the worst and most dilutive large-cap corporate deals he’s come across.

Read the full story tomorrow and more on the Street Talk page.

The Australian sharemarket tumbled on Monday as investors braced for US President Donald Trump’s largest slew of tariffs yet, which could trigger a meaningful economic downturn.

Click here for the latest equity market wrap.