Filing Flows › CRH Public (CRH) › Takeover & LBO
Is CRH Public (CRH) a takeover target?
A leveraged buyout at today's price plus 30% ($124.09 a share) would return about 2% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $75.93 a share (−20% against today's $95.45). At $98.3B it would be larger than any buyout on record (the model flags anything over $60 billion), so this is a thought experiment more than a prospect. Historically 2.5% of companies with its figures were bought within a year (0.5× the average). Latest signal (2026-11-04): 1350 Avenue of the Americas.
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $124.09 | today's $95.45 plus 30% |
| × shares | 666.9 million | |
| = Equity value | $82.8B | |
| + Debt refinanced | $19.6B | |
| − Cash | $5.1B | |
| + Other claims | $1.0B | preferred stock, minority interests |
| = Enterprise value | $98.3B | 12.9× EBITDA of $7.6B |
| Fees | $2.0B | 2% of the price |
| New debt | $41.9B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $58.4B | 58% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $41.1B | $8.0B | $3.2B | $1.1B | $40.8B |
| Year 2 | $43.2B | $8.4B | $3.1B | $1.3B | $39.4B |
| Year 3 | $45.0B | $8.8B | $3.0B | $1.6B | $37.8B |
| Year 4 | $46.7B | $9.1B | $2.9B | $1.9B | $36.0B |
| Year 5 | $48.1B | $9.4B | $2.8B | $2.1B | $33.9B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 10.4× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $97.7B | |
| − Debt left | $33.9B | |
| = Buyer's equity | $63.8B | |
| Money multiple | 1.09× | on $58.4B put in |
| Buyer's yearly return (IRR) | 1.8% |
Price against return
What the buyer makes at other premiums over today's $95.45; the IRR reaches 20% at $75.93 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $105.00 | 7.0% |
| 20% | $114.54 | 4.2% |
| 30% | $124.09 | 1.8% |
| 40% | $133.63 | −0.3% |
| 50% | $143.18 | −2.2% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $39.0B | |
| EBITDA, last 12 months | $7.6B | 19.5% of revenue |
| Depreciation and amortization | $2.3B | |
| Capital spending | $2.7B | |
| Debt | $19.6B | |
| Cash | $5.1B | |
| Share price | $95.45 | on Nov 6, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 5.6% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 27% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, CRH Public would cost about $126.47 a share, $84.3B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 20% | $114.54 | $76.4B |
| Median | 32.5% | $126.47 | $84.3B |
| High end (a quarter paid more) | 51.8% | $144.89 | $96.6B |
The odds, from history
Historically 2.5% of companies with its figures were bought within a year (0.5× the average). Its figures put it in decile 2 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Rumors and deal signals
- 2026-11-04 · 8-K deal · 1350 Avenue of the Americas
CRH Public's latest quarter
CRH Public, Q3 2026: revenue $11.4B (+3% year over year), operating margin 16.6%, net earnings $1.2B, operating cash flow $1.8B. The chart follows the revenue to costs, profit and cash.
Questions
Is CRH Public being acquired?
The latest signal on file is from 2026-11-04: 1350 Avenue of the Americas. A headline is not a deal; Filing Flows lists the news, 8-K filings and 13D filings about a sale.
Could private equity buy CRH Public?
A leveraged buyout at today's price plus 30% ($124.09 a share) would return about 2% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $75.93 a share (−20% against today's $95.45). At $98.3B it would be larger than any buyout on record (the model flags anything over $60 billion), so this is a thought experiment more than a prospect.
What would a takeover of CRH Public cost?
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, CRH Public would cost about $126.47 a share, $84.3B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.