U.S. Concrete to acquire Polaris Materials for C$309 million

Polaris Materials entered into an arrangement agreement with U.S. Concrete, under which U.S. Concrete will acquire all Polaris shares for C$3.40 per share in cash, implying an equity value of approximately C$309 million. Polaris terminated a prior agreement with Vulcan Materials.

“The cash purchase price under the USCR Arrangement represents a 254% premium to Polaris' closing share price of C$0.96 on August 25, 2017.”newswire.ca

• 2 sources
• newswire.caPolaris Announces Arrangement Agreement with U.S. Concrete and Termination of Arrangement Agreement with Vulcan MaterialsPolaris Materials CorporationSep 29, 2017
• reuters.comU.S. CONCRETE TO ACQUIRE POLARIS MATERIALS CORPORATIONSep 29, 2017

Summarized from public sources; check the original articles before acting on it.