U.S. Concrete Pays a High Price to Steal Polaris Materials From Vulcan Materials’ Hands
On Sept. 29, U.S. Concrete announced that it had outbid Vulcan Materials to acquire Polaris Materials. U.S. Concrete is offering Polaris shareholders CAD 3.40 per share, surpassing Vulcan’s offer of CAD 2.79 per share. We had already viewed Vulcan’s offer price as too high, considering that it represented a whopping 194% premium to the 10-day average prior to the announcement.When it came to Vulcan, we didn’t expect the pricey acquisition to affect value materially, as the purchase price repres...
U.S. Concrete is a holding company. Through its subsidiaries, the company is engaged as a producer of ready-mixed and as a supplier of aggregates. The company's products comprised of: ready-mixed concrete, which products consist of proportioned mixes it produces and delivers in an unhardened plastic state for placement and shaping into designed forms at the job site; aggregates products, which sells these aggregates for use in commercial, industrial and public works projects in the markets they serve; and other, which includes the company's building materials stores, hauling operations, aggregates distribution terminals, a recycled aggregates operation and concrete blocks.
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