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Summit Supplies (SUM +8.7%) is sharply increased after Southeastern Asset Administration discloses a 12.8M-share place, reflecting an 11.4% stake within the firm, and adjustments its shareholding place to lively from passive.

Southeastern says it’s switching from a submitting on Schedule 13G to Schedule 13D with a purpose to have extra direct conversations with SUM, different shareholders and third events about alternatives to acknowledge the corporate’s intrinsic worth.

The information follows a report final week that Colombia’s Cementos Argos had approached SUM a couple of potential merger.