Summit Materials Scooped Up: Quikrete Strikes $11.5 Billion Deal To Cement Industry Presence
Summit Materials Scooped Up: Quikrete Strikes $11.5 Billion Deal To Cement Industry Presence
The transaction will combine Summit's aggregates, cement, and ready-mix concrete businesses with Quikrete's concrete and cement-based products, creating a vertically integrated North American construction materials provider with strong customer relationships and iconic products.Summit Materials, Inc. (NYSE:SUM) shares are trading higher on Monday. The company inked a definitive deal to be acquired by privately owned family business Quikrete Holdings for $52.50 per share in cash, valuing the transaction at approximately $11.5 billion, including debt.
Summit Materials, Inc.（纽交所：SUM）股票在周一交易上涨。该公司签署了一项最终协议，将被私人家族企业Quikrete Holdings以每股52.50美元的现金收购，此交易的估值约为115亿美金，包括债务。
The deal price represents a 36% premium to Summit's 90-day volume-weighted average price and a 29% premium to its unaffected share price. In October, Summit Materials disclosed receiving a non-binding acquisition proposal.
该交易价格较Summit的90天成交量加权平均价格溢价36%，较其未受影响的股价溢价29%。在10月，Summit Materials披露收到了一份非约束性的收购提案。
The deal has been unanimously approved by both Summit and Quikrete's Boards of Directors.
该交易已获得Summit和Quikrete董事会的一致通过。
The transaction will combine Summit's aggregates, cement, and ready-mix concrete businesses with Quikrete's concrete and cement-based products, creating a vertically integrated North American construction materials provider with strong customer relationships and iconic products.
该交易将把Summit的骨料、水泥和预拌混凝土业务与Quikrete的混凝土和水泥基产品结合在一起，打造一个垂直整合的北美建筑材料供应商，拥有强大的客户关系和标志性产品。
The transaction is expected to close in the first half of 2025, pending Summit shareholder approval, regulatory clearances, and other customary closing conditions.
预计交易将在2025年上半年完成，此前需获得Summit股东批准、监管机构的批复以及其他常规成交条件。
Once completed, Summit will become a privately held subsidiary of Quikrete, and its common stock will no longer be traded on the NYSE.
一旦完成，Summit将成为Quikrete的私人子公司，其普通股将不再在纽交所交易。
Anne Noonan, Summit Materials President and Chief Executive Officer, said, "This combination, and the value it creates, is a testament to our stellar strategic and financial performance, agile operational and commercial execution, and to the strength and talent of our entire team who have delivered a 34.6% annualized return since we began to develop our Elevate strategy on September 1, 2020."
Summit Materials总裁兼首席执行官Anne Noonan表示：“这一组合及创造的价值，是我们恒星币战略和财务表现的见证，灵活的运营和商业执行，以及我们整个团队的力量和才干，他们自2020年9月1日开始发展我们的Elevate策略以来，年化回报率达34.6%。”
Will Magill, Chief Executive Officer of Quikrete, stated, "This acquisition represents a significant milestone in our journey to expand our capabilities and geographic presence. Summit is a recognized leader with a highly complementary portfolio of trusted aggregate, cement and ready-mix solutions."
Quikrete首席执行官Will Magill表示：“此收购代表了我们扩大能力和地理影响力过程中的重要里程碑。Summit是一家被认可的领导者，拥有高度互补的值得信赖的骨料、水泥和预拌解决方案组合。”
The company's stock has gained over 12% in the past month. Investors can gain exposure to the stock via Professionally Managed Portfolios Congress SMid Growth ETF (NYSE:CSMD) and Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ).
该公司的股票在过去一个月中上涨超过12%。投资者可以通过专业管理投资组合大会SMid增长ETF（纽交所：CSMD）和景顺多西赖特基础材料动量ETF（纳斯达克：PYZ）获得对该股票的敞口。
Price Action: SUM shares are trading lower by 1.72% at $50.77 at the last check Monday.
价格走势：Summit材料的股票在最后一次检查时下跌1.72%，报价为50.77美元。
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Photo by haneen-krimly for Unsplash.
照片由haneen-krimly提供，来自Unsplash。
