Benzinga | Jun 7, 2021 07:03AM EDT

Vulcan To Acquire U.S. Concrete For $74/Share In Cash

Vulcan Materials Company (NYSE:VMC), a leading producer of construction aggregates, and U.S. Concrete, Inc. (NASDAQ:USCR), a leading supplier of aggregates and ready-mixed concrete, today announced that they have entered into a definitive merger agreement. Under the terms of the agreement, Vulcan will acquire all of the issued and outstanding shares of U.S. Concrete common stock for a purchase price of $74.00 per share in cash, which represents a total equity value of $1.294 billion. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in the second half of 2021, subject to U.S. Concrete shareholder approval, regulatory clearance, and other customary closing conditions.