The Company has held preliminary discussions with interested parties, and, in consultation with its advisors, the Summit Board of Directors will carefully evaluate the proposal to determine the course of action it believes is in the best interests of the Company and its shareholders.
There is no guarantee that a definitive agreement will be reached. Summit does not plan to provide updates on this matter, except as required by applicable law.
Morgan Stanley & Co. (NYSE: ). LLC and Evercore acted as financial advisor to Summit, and Davis Polk & Wardwell LLP acting as legal counsel.
About Summit Materials, Inc.
Top Material is a market-leading aggregate and cement producer with vertically integrated operations providing ready-mixed concrete and asphalt in selected markets. Summit is a business with a diverse geographic scale of materials that offers customers in the United States and British Columbia, Canada high-quality products and services for public infrastructure, residential and non-residential markets. Summit has a strong track record of successful acquisitions since its founding and continues to pursue high-yielding growth opportunities in new and existing markets. For more information about Top Materialvisit www.summit-materials.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of federal securities laws, which involve risks and uncertainties. Forward-looking statements include all statements that do not relate solely to historical or current facts, and you can identify forward-looking statements by containing words such as “believe,” “expect,” “could,” “will,” “should.” ,” “seeks,” “intends,” “trends,” “estimates,” “projects” or “anticipates” or similar expressions relating to our strategies, plans, expectations or intentions. These forward-looking statements are subject to risks, uncertainties and other factors that could cause our actual results, performance or achievements to differ from the future results, performance or achievements indicated or implied by such forward-looking statements. We derive many forward-looking statements from our operating budgets and forecasts, which are based on many detailed assumptions. While we believe that our assumptions are reasonable, it is very difficult to predict the effects of known factors, and, of course, we cannot anticipate all factors that may affect our actual results.
In light of the significant uncertainty inherent in forward-looking statements included here, the inclusion of such information should not be considered as a representation by us or others that the results or conditions described in such statements or our goals and plans will be. realized. Important factors may affect our results and may cause results to differ materially from those indicated in forward-looking statements, including but not limited to the factors discussed in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year fiscal quarter ended December 30, 2023, and our Quarterly Report on Form 10-Q for the fiscal quarter ended March 30, 2024. These factors may be updated from time to time in our periodic filings with Securities and Exchange Commission (“SEC“), which can be accessed at SEC’s website www.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise, except as required by law.
Contact Information
Summit Materials, Inc.
andy.larkin@summit-materials.com
720-618-6013
Summit@fgsglobal.com
