The facts block is sourced from a single SEC filing: an 8-K filed with SEC EDGAR and published on February 5, 2025. The deal's current status is pending regulatory approval.
On the financial advisory side, Wells Fargo is acting as exclusive financial advisor to Quikrete, the acquirer, and is designated as lead advisor. On the target side, both Morgan Stanley & Co. LLC and Evercore are acting as financial advisors to Summit, with no lead designation specified between them.
Legal counsel was also disclosed for both sides. On the acquirer side, both Troutman Pepper Locke LLP and Covington & Burling LLP are acting as legal counsel to Quikrete. On the target side, Davis Polk & Wardwell LLP is acting as legal advisor to Summit.
Beyond its characterization as a take-private merger, the facts block provides no further detail on the consideration structure, such as whether shareholders are being paid in cash, or on a per-share purchase price.
Several facts are not disclosed in the source material. The overall deal value is not stated. The facts block does not specify the consideration structure or a per-share price, nor does it give an expected closing date for the transaction.