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SUM Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Sale of Summit Materials to Quikrete Holdings
SUMSummit Materials(SUM) GlobeNewswire News Room·2024-11-26 00:33

MONSEY, N.Y., Nov. 25, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Summit Materials, Inc. (NYSE: SUM) (“Summit”) to Quikrete Holdings (“Quikrete”) for 52.50pershareincash.Thesalepricerepresentsonlyatiny1.652.50 per share in cash. The sale price represents only a tiny 1.6% premium to Summit’s last closing price of 51.66 per share on November 22, 2024. Further calling the fairness of the deal into question, the sale price is below the pre-announcement price target for Summit of at least thr ...