ASX-listed building materials group James Hardie forecast tepid earnings growth for its North American business while reporting a drop in annual profit on Wednesday, hammering its shares.

James Hardie originally proposed an all-scrip merger with American outdoor decking and railings company Azek in November last year but was spurned by the group’s board, which demanded the offer ...

And why would a company board contemplate a move so opposed by its investors? James Hardie’s boss, Aaron Erter, was already Australia’s second highest-paid CEO last year with a pay packet of $ ...