US Concrete Investor Sues To Stop $1.3B Snap-Up By Vulcan
By McCord Pagan (July 9, 2021, 2:55 PM EDT) -- U.S. Concrete Inc. and its executives were sued Friday in Delaware federal court by an investor who asserts the company's nearly $1.3 billion deal with stone and gravel producer Vulcan Materials Co. undervalues the business.
Stockholder Thomas Clark said in the lawsuit that U.S. Concrete's acquisition by Vulcan at $74 per share, signed in June, doesn't take into account the business' positive long-term prospects and was driven more by the financial benefits to the company's executives than getting a fair price for investors.
"The process deployed by the individual defendants was flawed and inadequate, was conducted out of the self-interest of...
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