UK's Breedon Group soars to over 3-year high on Lionmark acquisition

Shares of British constructions materials company Breedon Group BREE.L up as much as 14% at 486.5p, highest since January 2022

Co acquires U.S. based construction materials company Lionmark for $238 million

BREE says economic landscape in the US is robust, benefiting from budget surplus, falling interest rates and net inward migration

BREE attributes 6% growth in 2024 EBITDA and revenue on entering U.S. markets and cost controls

Peel Hunt analysts say "despite tricky conditions in GB, we expect the business to continue making decent progress"

As of last close, stock had risen 9.26% so far this year