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FGS Global handles Summit Materials as the Denver-based aggregates and cement company agrees to be acquired by Quikrete Holdings for $11.5B.
The $52.5 per share takeover offer represents a 36 percent premium over Summit’s average stock price over the past three months.
The merger with Quikrete’s concrete & cement business will forge a vertically integrated construction materials powerhouse.
The transaction “is a testament to our stellar strategic and financial performance, and agile operational and commercial execution," said Ann Noonan, Summit’s CEO.
Privately held Quikrete is based in Atlanta, and owns brands such as Quikrete, Rinker Materials, US Pipe, Keystone Hardscapes, Spec Mix and Pavestone that serve the commercial, residential and infrastructure sectors in the US and Canada.
The merger, which is subject to Summit shareholder approval, is expected to be completed during the first half of next year.
FGS Global has Jim Barron, Benjamin Spicehandler and Danielle Berg working the Summit account.
The Brand Amp represents Archer Aviation as it acquires Boeing’s $200M flying-taxi operation in return for a 20 percent stake in the Silicon Valley startup.
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Randy Sinclair, who rose to lead investor relations at Chevron during an 11-year run, will move to Northrop Grumman on Aug. 10 as VP-IR.
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Alpha IR and Alpha Advisory Group represent McKinley Acquisition Corp. as it plans to take hostile drone spotter and destroyer Space-Eyes public via a SPAC deal valued at $370M.
