Vulcan Materials Company commented on Polaris’ termination of its agreement to be acquired by them, resulted from the board of directors accepting a superior proposal as defined in the agreement with Vulcan.
Vulcan Materials Company commented on Polaris’ termination of its agreement to be acquired by them resulted from the board of directors accepting a superior offer as defined in the agreement with Vulcan.
"Vulcan is a disciplined buyer, and we believe that our prior agreement to acquire Polaris for C$2.79 per share represented full and fair value for the company," said Vulcan's Chairman and Chief Executive Officer Tom Hill. "Vulcan remains well positioned for long-term growth and we look forward to continuing to seek opportunities to further enhance shareholder value."
Under the terms of its agreement, Vulcan has received a C$10 million termination fee from Polaris.
