Summit Materials Shares Gain 7.1% After WSJ Report of Possible Acquisition by Quikrete

Dow Jones

22 Nov 2024

By Connor Hart

Shares of Summit Materials jumped after The Wall Street Journal reported that its rival, Quikrete, is in advanced talks to buy the company.

Summit Materials stock rose 7.1%, to $51.84, in midday trading Thursday. Shares are up 26% since the beginning of the year.

Assuming talks don't fall apart, the deal could be announced as early next week, the report said, citing people familiar with the matter.

Denver-based Summit has a market value of about $8.5 billion.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 21, 2024 13:08 ET (18:08 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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