DENVER - Summit Materials, Inc. (NYSE: NYSE:SUM), a leading provider of construction materials, has announced the successful completion of its $3.2 billion merger with Argos North America Corp., the U.S. arm of Cementos Argos S.A. (CCB.CN, CEMARGOS CB). The transaction, which was first agreed upon on September 7, 2023, received overwhelming approval from Summit shareholders at a special meeting held on Thursday.
Anne Noonan, President and CEO of Summit Materials, emphasized the company's focus on delivering synergy commitments and industry-leading returns for shareholders. Summit Materials also acknowledged the support of its Board of Directors, shareholders, and employees throughout the merger process.
The combined entity is expected to leverage its expanded resources to serve a wide range of markets, including public infrastructure, residential, and non-residential sectors. Summit Materials has a history of successful acquisitions and growth in both new and existing markets.
Morgan Stanley & Co (NYSE:MS). LLC served as the financial advisor for Summit Materials, with legal counsel provided by Davis Polk & Wardwell LLP and Davis Graham & Stubbs LLP.
This news is based on a press release statement from Summit Materials, Inc.
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