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.（紐交所：SUM）股票在週一交易上漲。該公司簽署了一項最終協議，將被私人家族企業Quikrete Holdings以每股52.50美元的現金收購，此交易的估值約爲115億美金，包括債務。
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.
該交易價格較Summit的90天成交量加權平均價格溢價36%，較其未受影響的股價溢價29%。在10月，Summit Materials披露收到了一份非約束性的收購提案。
The deal has been unanimously approved by both Summit and Quikrete's Boards of Directors.
該交易已獲得Summit和Quikrete董事會的一致通過。
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.
該交易將把Summit的骨料、水泥和預拌混凝土業務與Quikrete的混凝土和水泥基產品結合在一起，打造一個垂直整合的北美建築材料供應商，擁有強大的客戶關係和標誌性產品。
The transaction is expected to close in the first half of 2025, pending Summit shareholder approval, regulatory clearances, and other customary closing conditions.
預計交易將在2025年上半年完成，此前需獲得Summit股東批准、監管機構的批覆以及其他常規成交條件。
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將成爲Quikrete的私人子公司，其普通股將不再在紐交所交易。
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總裁兼首席執行官Anne Noonan表示：「這一組合及創造的價值，是我們恒星幣戰略和財務表現的見證，靈活的運營和商業執行，以及我們整個團隊的力量和才幹，他們自2020年9月1日開始發展我們的Elevate策略以來，年化回報率達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首席執行官Will Magill表示：「此收購代表了我們擴大能力和地理影響力過程中的重要里程碑。Summit是一家被認可的領導者，擁有高度互補的值得信賴的骨料、水泥和預拌解決方案組合。」
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).
該公司的股票在過去一個月中上漲超過12%。投資者可以通過專業管理投資組合大會SMid增長ETF（紐交所：CSMD）和景順多西賴特基礎材料動量ETF（納斯達克：PYZ）獲得對該股票的敞口。
Price Action: SUM shares are trading lower by 1.72% at $50.77 at the last check Monday.
價格走勢：Summit材料的股票在最後一次檢查時下跌1.72%，報價爲50.77美元。
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Photo by haneen-krimly for Unsplash.
照片由haneen-krimly提供，來自Unsplash。
