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Message: Update: Polaris at 9-Year Highs as Announces Receipt of Superior Proposal; Had Agreed Deal With NYSE-listed Vulcan
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Update: Polaris at 9-Year Highs as Announces Receipt of Superior Proposal; Had Agreed Deal With NYSE-listed Vulcan

posted on Sep 22, 2017 10:56AM
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2017-09-22 10:54:06 AM ET (MT Newswires)
   
   

10:54 AM EDT, 09/22/2017 (MT Newswires) -- Polaris Materials (PLS.TO) climbed to its highest level in nine yearsafter it said Friday that it has received an unsolicited offer from an undisclosed US construction materials company to acquire the company for $3.40 per share in cash, which the board deems as the superior proposal compared to Vulcan Materials' offer of $2.79 per share.

The company has given Vulcan until Sept. 28 to amend its offer.

The stock was last up 28% at $3.53.

Price: 3.53 , Change: +0.77, Percent Change: +27.9
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