Summit Materials completes merger with Quikrete
Published by Alfie Lloyd-Perks,
Editorial Assistant
World Cement,
Summit Materials, Inc., a leading producer of aggregates and cement, have announced the closing of its previously announced definitive agreement to be acquired by Quikrete Holdings, Inc. for US$52.50 per share in cash, for a total enterprise value of approximately US$11.5 billion, including debt.
Summit's common stock has ceased trading on the NYSE and will no longer be listed on any public market. Additionally, Summit has become a privately held subsidiary of Quikrete.
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.
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Read the article online at: https://www.worldcement.com/the-americas/11022025/summit-materials-completes-merger-with-quikrete/
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