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Quikrete is reportedly in advanced negotiations to acquire Summit Materials, as indicated by sources cited in a Wall Street Journal report. The deal, which could be announced as early as next week, has already generated significant market interest, with Quikrete's stock rising by 9% following the news. This marks a continuation of interest in the acquisition, as the story had previously surfaced, leading to a cumulative increase of 18% in Quikrete's stock. Additionally, Quikrete's operational activities were noted, with reports of company jets flying to key locations, including Teterboro and Denver, which is home to Summit Materials.
Quikrete, the company behind the worst uniform patch in all of sports, is near a deal to buy another company. Asking @laurenthomas to get us details on whether it means the Atlanta Braves can get out of that gross deal. https://t.co/3YkeKjig9N
From our November 5 note .... "One of Quikrete's jets flew to Teterboro yesterday while another flew to Denver. The latter is the home of Summit Materials (SUM), which is a cement company that Quikrete is trying to buy." Just remember that when the deal proxy comes out ... https://t.co/UAVxgYx2GG
Quikrete in advanced talks to buy $SUM: WSJ Problem is this story already broke once, so now we're +9% on a prior +9%.