01:30 PM EST, 11/21/2024 (MT Newswires) -- Summit Materials ( SUM ) is in advanced discussions to be acquired by building materials supplier Quikrete, the Wall Street Journal reported Wednesday, citing people familiar with the situation.

If talks proceed without hurdles, a deal between Quikrete and Summit -- which has a market value of nearly $8.5 billion -- could be announced as early as next week, according to WSJ.

Neither Summit Materials ( SUM ) nor Quikrete immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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