Atlanta-based Quikrete Holdings Inc. closed its acquisition of key cement, aggregate and concrete operator Summit Materials. The deal was consummated early last month per terms of Quikrete Holdings’ November 2024 offer of $52.50/share, representing an enterprise value of $11.5 billion, about $2 billion of which is assumed debt. Cementos Argos (31 percent stake, acquired February 2024) of Colombia led shareholders…
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Summit Materials closing: A quantum leap for Quikrete Holdings
Sources: Summit Materials Inc., Denver; CP staff Atlanta-based Quikrete Holdings Inc. has completed the acquisition of key cement, aggregate and concrete operator Summit Materials. The deal closed February 10 per terms of Quikrete Holdings’ November 2024 offer of $52.50/share, representing an enterprise value of $11.5 billion, about $2 billion of which is assumed debt. Led by Colombia-based Cementos Argos (31…
Read MoreSummit Materials directors approve Quikrete Holdings takeover offer
Sources: Summit Materials Inc., Denver; CP Summit Materials Inc. has entered a definitive agreement to be acquired by Atlanta-based Quikrete Holdings Inc. for $52.50 per share in a cash transaction valued upward of $11.5 billion. Summit directors have approved terms of the offer unanimously and will recommend shareholders vote accordingly ahead of a planned transaction closing during the first half…
Read MoreRinker Materials’ Texas pipe plants suit Oldcastle Infrastructure
Sources: Forterra Inc., Irving, Texas; CP staff In a new U.S. Securities and Exchange Commission filing, Forterra details an Asset Purchase Agreement to advance a merger with Quikrete Holdings Inc. The Agreement calls for the sale of Dallas/Fort Worth, Houston and San Antonio concrete pipe production assets—presently held by Quikrete subsidiary Rinker Materials—to Oldcastle Infrastructure Inc. The proposed transaction anticipates…
Read MoreForterra, Quikrete outline $200M in asset deals with CP&P, Foley
Sources: Forterra Inc., Irving, Texas; CP staff In December U.S. Securities and Exchange Commission filings, concrete pipe leader Forterra reports Purchase Agreements with Virginia’s Eagle Corp. and Georgia’s Foley Products Company Inc., both anticipating U.S. Department of Justice Antitrust Division-stipulated asset divestitures leading to approval of a merger with Atlanta-based Quikrete Holdings Inc. A $2.3 billion merger plan was announced…
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