Summit Materials announces stockholder approval of Quikrete transaction
Published by Alfie Lloyd-Perks,
Editorial Assistant
World Cement,
Summit Materials has announced that it has obtained all necessary stockholder approvals in connection with the proposed acquisition by Quikrete. Summit will disclose the final, certified voting results on a Form 8-K with the US Securities and Exchange Commission ("SEC").
As previously announced, the proposed transaction is expected to close within the first quarter of 2025, subject to the satisfaction of remaining customary closing conditions. Upon completion of the transaction, Summit will become a privately held subsidiary of Quikrete and its common stock will no longer be traded on the NYSE.
Advisors
Morgan Stanley & Co. LLC and Evercore are acting as financial advisors to Summit, and Davis Polk & Wardwell LLP is acting as legal advisor. Wells Fargo is acting as exclusive financial advisor to Quikrete, and Troutman Pepper Locke LLP and Covington & Burling LLP are acting as legal counsel. Wells Fargo has provided a debt financing commitment for the Merger.
Click here for free registration to World Cement
Read the article online at: https://www.worldcement.com/the-americas/06022025/summit-materials-announces-stockholder-approval-of-quikrete-transaction/
You might also like
World Cement Podcast
In the latest episode of the World Cement Podcast, Senior Editor David Bizley is joined by Dr Andrew Minson of the GCCA to discuss the ins and outs of the recently launched Low Carbon Ratings (LCR) system.
Molins announce first quarter results
Net profit reached €48 million, equivalent to earnings per share of 0.73 euros, 6% lower than the same period of the previous year.
