Summit Materials announces expiration of HSR Act waiting period for acquisition

Summit Materials (SUM) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with Summit’s previously announced definitive agreement to be acquired by Quikrete Holdings for $52.50 per share in cash. The Merger is expected to close within the first quarter of 2025, subject to the satisfaction of remaining customary closing conditions, as well as receipt of regulatory approvals and Summit stockholder approval. Upon completion of the Merger, Summit will become a privately held subsidiary of Quikrete and its common stock will no longer be traded on the NYSE.