Summit materials enters into definitive agreement to be acquired by quikrete for $52.50 per share in cash

Compelling premium maximizes value to shareholders denver , nov. 25, 2024 /prnewswire/ -- summit materials, inc. (nyse: sum), ("summit," "summit materials," "summit inc." or the "company") a leading producer of aggregates and cement, today announced it has entered into a definitive agreement to be acquired by quikrete holdings, inc. ("quikrete") for $52.50 per share in cash, for a total enterprise value of approximately $11.5 billion, including debt. the transaction price represents an approximately 36% premium to summit's unaffected 90-day volume weighted average price (vwap) 1 and an approximately 29% premium to summit's unaffected share price 2.
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