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Prospect News home > News index > List of issuers Q > Headlines for Quikrete Holdings, Inc. > News item |
Quikrete plans new incremental loan for Forterra purchase
By Sara Rosenberg
New York, Feb. 23 – Quikrete Holdings Inc. has received a commitment for an incremental loan to fund its acquisition of Forterra Inc., according to a news release.
Wells Fargo provided the debt commitment.
Under the agreement, Forterra is being bought for $24.00 per share in an all-cash transaction valued at about $2.74 billion, including outstanding debt.
Closing is expected in the fourth quarter, subject to receipt of clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary conditions.
Quikrete is an Atlanta-based buildings materials company. Forterra is an Irving, Tex.-based manufacturer of water and drainage infrastructure pipe and products.
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