Building-materials provider Quikrete is in advanced talks to acquire Summit Materials (SUM), Lauren Thomas of Wall Street Journal reports, citing people familiar with the matter. A deal between Quikrete and Summit could be announced early next week, sources told the Journal. Shares of Summit jumped 9% to $52.53 following the report. Summit peers Vulcan Materials (VMC), Martin Marietta (MLM) and Eagle Materials (EXP) also ticked higher following the report.
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Read More on SUM:
- Quikrete in advanced talks to acquire Summit Materials, WSJ says
- Summit Materials jumps 10% to $53.01 after WSJ report on buyout talks
- Summit Materials price target raised to $47 from $41 at DA Davidson
- Summit Materials price target raised to $60 from $47 at Truist
- Summit Materials price target raised to $54 from $49 at Loop Capital