OTCPK:PILBF - Post by User
Post by
aggmanon Apr 02, 2015 9:42pm
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Post# 23594138
US Concrete - acquiring / stock soaring at $35.55
US Concrete - acquiring / stock soaring at $35.55 U.S. Concrete has completed the acquisition of all of the issued and outstanding equity interests of Ferrara Bros. Building Materials
6:02 AM ET, 04/02/2015 - Briefing.com This acquisition will significantly expand U.S. Concrete's footprint in the New York metropolitan market and will allow the company to more effectively serve construction projects in Manhattan.
The co disclosed that the consideration for the purchase consisted of a cash payment of ~$45 million and the issuance of the number of shares of its common stock equal to $15 million.
US Concrete - its been on a strong path since the nadir or 2011-2012. FOr me its the mark of a performing enterprise and for the industry we are seeing earnings, pricing, and margin expansion - - multiple expansion.
So industry valuations are steadily powering up.
Polaris will benefit of this industry re-rating.
Summitt Materials IPO-ed 4-weeks back and its probably another indicator of the markets appreciation of the concrete, cement, aggreate, paving sector.