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Summit Materials ( (SUM) ) has provided an announcement.
Summit Materials, Inc. has entered into a merger agreement with Quikrete Holdings, where Quikrete’s subsidiary will merge with Summit, with Summit becoming a wholly-owned subsidiary. The deal offers $52.50 per share in cash to Summit’s shareholders. The merger will be financed through new debt, existing credit facilities, and cash. Key conditions include shareholder and regulatory approvals, while Summit retains the right to consider superior offers. A termination fee of $279 million applies under specific circumstances.
For a thorough assessment of SUM stock, go to TipRanks’ Stock Analysis page.