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Feb. 22, 2021, 8:10 a.m. EST

Forterra to be taken private by Quikrete Holdings in deal valued at about $2.74 billion, including debt

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By Ciara Linnane

Forterra Inc. /zigman2/quotes/200003539/composite FRTA -0.13% , a maker of water and drainage infrastructure pipes and products in the U.S. and Eastern Canada, said Monday it has agreed to be taken private by Quikrete Holdings Inc. in an all-cash deal valued at about $2.74 billion, including debt. Quikrete, a family-owned buildings materials company, will pay $24 per share to acquire the company, or a premium of about 38.5% over the company's 90-day volume-weighted average share price on February 19. The deal is expected to close in the fourth quarter. Forterra said it will release quarterly earnings as planned on Feb. 24 but will not host its usual conference call. Forterra shares were halted for the news, but have gained 44% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.36% has gained 17%.

/zigman2/quotes/200003539/composite
US : U.S.: Nasdaq
$ 23.40
-0.03 -0.13%
Volume: 270,751
April 16, 2021 4:00p
P/E Ratio
25.09
Dividend Yield
N/A
Market Cap
$1.56 billion
Rev. per Employee
$348,069
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/zigman2/quotes/210599714/realtime
US : S&P US
4,185.47
+15.05 +0.36%
Volume: 2.21B
April 16, 2021 5:15p
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