Mergers and Acquisitions

Special Committee of the Board of Directors of Polaris Materials Corp. in its sale to U.S. Concrete, Inc. for $310 million

Special Committee of the Board of Directors of Polaris Materials Corp.
Key Contact
Alan Hutchison

Partner, Corporate, Vancouver

Team
Trevor R. Scott

Partner, Corporate, Vancouver

Patrick J. Sullivan

Partner, Corporate, Vancouver

 

On November 17, 2017, U.S. Concrete, Inc. completed the acquisition of Polaris Materials Corporation for approximately $310 million. U.S. Concrete’s unsolicited interloping bid terminated the previously announced friendly $252 million acquisition by Vulcan Materials. Osler advised the Special Committee of the Board of Directors of Polaris Materials on both the initial agreement with Vulcan and the superior proposal from U.S. Concrete.

Polaris is a Canada-based company, which operates in the development and operation of construction aggregate properties and projects located in the western North America segment.

U.S. Concrete serves the construction industry in several major markets in the United States through its two business segments: ready-mixed concrete and aggregate products.

Osler, Hoskin & Harcourt LLP represented Polaris’ Special Committee with a team consisting of Alan Hutchison, Trevor Scott, and Patrick Sullivan (Corporate).

Value
$310 million
Date Closed
November 17, 2017
Lead Office
Toronto
Key Contact
Alan Hutchison

Partner, Corporate, Vancouver

Team
Trevor R. Scott

Partner, Corporate, Vancouver

Patrick J. Sullivan

Partner, Corporate, Vancouver