Quikrete to Acquire Summit Materials for $11.5 Billion, Offering 29.2% Premium at $52.50 Per Share

Nov 25, 2024, 03:15 PM

Quikrete Holdings has announced a deal to acquire Summit Materials in a transaction valued at $11.5 billion, including debt. The acquisition, which offers a 29.2% premium to Summit Materials shareholders at $52.50 per share, will result in Summit Materials being taken private. The deal is supported by a $9.2 billion debt package, signaling a potential resurgence of large-scale buyouts on Wall Street. This move aims to consolidate Quikrete's position in the U.S. building materials market, as the company prepares for a potential construction boom.