BUZZ-Summit Materials rises after report says Quikrete in advanced talks to acquire co

Reuters

2024/11/22

** Shares of Summit Materials Inc SUM.N up 7.1% at $51.82

** Rival Quikrete, which is privately held, is reportedly in advanced discussions to acquire SUM, WSJ has reported citing people familiar with the matter.

** Summit, which is a provider of construction materials such as cement, ready-mix concrete, and asphalt has market value of about $8.5 billion

** SUM shares up ~35% YTD

(Reporting by Rupali Chaudhary in Bengaluru)

((Rupali.Chaudhary@thomsonreuters.com))

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