Summit shareholder Southeastern Asset turns active with 11.4% stake – Summit Materials, Inc. (NYSE:SUM)


Summit Materials (SUM +8.7%) is sharply higher after Southeastern Asset Management discloses a 12.8M-share position, reflecting an 11.4% stake in the company, and changes its shareholding position to active from passive.

Southeastern says it is switching from a filing on Schedule 13G to Schedule 13D in order to have more direct conversations with SUM, other shareholders and interested third parties about opportunities to recognize the company’s intrinsic value.

The news follows a report last week that Colombia’s Cementos Argos had approached SUM about a potential merger.

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