French builder Saint-Gobain confirmed it submitted a $4.3 billion takeover offer to acquire 100% shares of Australian building products company CSR at $9 each.

The deal includes a provision for CSR to pay a final dividend of up to 25 cents per share for the fiscal year ending March 31.

The proposal is contingent on unanimous CSR board recommendations and regulatory approvals.

CSR unanimously decided to pursue the proposal. UBS and Herbert Smith Freehills have been appointed as financial and legal advisers.