Heidelberg said to be ‘mystery’ Summit Materials bidder, Bloomberg reports

Heidelberg Materials (HDELY) is said to be the “mystery bidder” identified by Summit Materials (SUM) as “Company A” in its proxy filing, Bloomberg reports. Summit Materials rose on Thursday after the company filed with the SEC its preliminary proxy statements relating to its previously announced transaction agreement with Argos North America, the U.S. operations of Cementos Argos (CMTOY). In the filing, the company had disclosed that on October 6, its board received an indicative, non-binding proposal from a representative of “Company A” to acquire 100% of the fully diluted equity interests in Summit for $37.50 per share of Class A Common Stock payable in cash and that on October 18 its board received a revised proposal from a representative of “Company A” to acquire 100% of the fully diluted equity interests in Summit for $38.00 per share of Class A Common Stock payable in cash.