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.
週一，峯會材料公司（紐約證券交易所代碼：SUM）股價上漲。該公司簽署了一項最終協議，將由私人家族企業Quikrete Holdings以每股現金52.50美元的價格收購，該交易估值約爲115億美元，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.
該交易價格比Summit的90天交易量加權平均價格高出36％，比未受影響的股價高出29％。10月，峯會材料透露收到了一份不具約束力的收購提案。
The deal has been unanimously approved by both Summit and Quikrete's Boards of Directors.
該協議已獲得Summit和Quikrete董事會的一致批准。
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相結合，創建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.
該交易預計將於2025年上半年完成，尚待峯會股東批准、監管部門批准和其他慣例成交條件。
Once completed, Summit will become a privately held subsidiary of Quikrete, and its common stock will no longer be traded on the NYSE.
建成後，Summit將成爲Quikrete的私人控股子公司，其普通股將不再在紐約證券交易所上市。
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總裁兼首席執行官安妮·努南表示：「這種組合及其創造的價值證明了我們出色的戰略和財務業績、敏捷的運營和商業執行，以及整個團隊的實力和才能，自我們於2020年9月1日開始制定Elevate戰略以來，他們的年化回報率爲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首席執行官威爾·馬吉爾表示：「此次收購是我們擴大能力和地域影響力之旅中的一個重要里程碑。Summit 是公認的領導者，擁有高度互補的可信骨料、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了12％以上。投資者可以通過專業管理投資組合國會中型增長ETF（紐約證券交易所代碼：CSMD）和景順多爾西賴特基礎材料動量ETF（納斯達克股票代碼：PYZ）獲得股票敞口。
Price Action: SUM shares are trading lower by 1.72% at $50.77 at the last check Monday.
價格走勢：在週一的最後一次支票中，SuM股價下跌1.72％，至50.77美元。
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Photo by haneen-krimly for Unsplash.
照片由 haneen-krimly 爲 Unsplash 拍攝。
譯文內容由第三人軟體翻譯。
