04:24 AM EDT, 10/25/2024 (MT Newswires) -- Summit Materials ( SUM ) said late Thursday it has received a non-binding acquisition proposal and held initial discussions with the interested party.

The company said its board will "carefully evaluate the proposal to determine the course of action it believes is in the best interests of the company and its shareholders."

The company did not disclose the interested party's name, but Bloomberg reported earlier Thursday, citing people familiar with the situation, that Summit has been approached by Quikrete Holdings with a possible takeover offer.

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