Summit Materials said on Monday rival Quikrete would acquire the company in a deal valued at $11.5 billion, in a move to capitalize on higher demand for building materials. The sector's deal-making activity has been heating up due to rising U.

Quikrete Holdings has struck a $9.2 billion deal to acquire Summit Materials, bringing together two of the biggest makers of building materials in the U.S. Privately held Quikrete is expected to pay $52.

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