Polaris Materials Corp.

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

Client

Special Committee of the Board of Directors of Polaris Materials Corp.

Value

$310 million

Service

Mergers and Acquisitions

Date Closed

November 2017

Industry

Mining

Lead Office

Toronto


 

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).


Team
Alan Hutchison - Mining lawyer
Key Contact

Alan Hutchison

Partner, Corporate

Trevor R. Scott

Trevor R. Scott

Partner, Corporate

Patrick has a broad corporate practice with an emphasis in securities, mining and corporate gover..

Patrick Sullivan

Associate, Corporate