Summit Materials Announces Expiration of the Competition Act (Canada) Waiting Period for Acquisition by Quikrete
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Summit Materials announced the expiration of the Competition Act (Canada) waiting period for its acquisition by Quikrete Holdings. The merger, valued at $52.50 per share, is expected to close in Q1 2025, pending regulatory and stockholder approvals.
January 09, 2025 | 1:15 pm
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Summit Materials' acquisition by Quikrete is progressing as the Canadian Competition Act waiting period has expired. The deal is valued at $52.50 per share and is expected to close in Q1 2025, subject to remaining approvals.
The expiration of the waiting period under the Competition Act (Canada) is a significant step forward in the acquisition process, indicating regulatory hurdles are being cleared. This increases the likelihood of the merger closing as planned, which is positive for Summit's stock price.
CONFIDENCE 95
IMPORTANCE 90
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