Forterra Enters Into Definitive Agreement to Be Acquired by Quikrete

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Go back to Forterra Enters Into Definitive Agreement to Be Acquired by Quikrete

Forterra (FRTA) to Be Acquired by Quikrete for $24/share in $2.74 Billion Deal

February 22, 2021 8:01 AM EST

Forterra, Inc. (Forterra or the Company) (NASDAQ: FRTA), a leading manufacturer of water and drainage infrastructure pipe and products in the United States and Eastern Canada, today announced that it has entered into a definitive agreement under which Quikrete Holdings, Inc. (Quikrete) will acquire all outstanding shares of Forterra for $24.00 per share in an all cash transaction valued at approximately $2.74 billion, including outstanding debt.

The transaction, which was unanimously approved by the Forterra Board of Directors, represents a premium of approximately 38.5% to Forterras 90-day volume-weighted average share price on February 19, 2021. Upon completion of the... More