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Industrial M&A image Industrial M&A » By The Online Investor Staff, updated Wed., May. 1, 10:19 PM Recent mergers and acquisitions in the Industrial M&A category.

Slide #79. Martin Marietta Materials Texas Industries

Acquirer: Martin Marietta Materials (MLM)
Acquiree: Texas Industries (TXI)
Details: Martin Marietta Materials, Inc. (NYSE:MLM) and Texas Industries, Inc. (NYSE:TXI) today announced that the Boards of Directors of both companies have unanimously approved a definitive merger agreement under which Martin Marietta will acquire all of the outstanding shares of Texas Industries common stock in a tax-free, stock-for-stock transaction. Under the terms of the merger agreement, Texas Industries shareholders will receive 0.700 Martin Marietta shares for each share of Texas Industries common stock they own at closing. Based on the closing market prices for the shares of both companies on January 27, 2014, and their debt levels as of their most recently completed quarters, the combined company will have an enterprise value of approximately $8.5 billion.

Martin Marietta Materials is a natural resource-based building materials company. Co. supplies aggregates (crushed stone, sand and gravel) through its network of quarries, mines and distribution yards. Co. also provides cement and downstream products, namely, ready mixed concrete, asphalt and paving services. Co. conducts its Building Materials business through two segments: East Group and West Group. The East Group provides aggregates and asphalt products only. The West Group provides aggregates, cement and downstream products. Co.'s Magnesia Specialties business is reported as a separate segment, which includes its magnesia-based chemicals and dolomitic lime businesses.

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Martin Marietta Materials is a natural resource-based building materials company. Co. supplies aggregates (crushed stone, sand and gravel) through its network of quarries, mines and distribution yards. Co. also provides cement and downstream products, namely, ready mixed concrete, asphalt and paving services. Co. conducts its Building Materials business through two segments: East Group and West Group. The East Group provides aggregates and asphalt products only. The West Group provides aggregates, cement and downstream products. Co.'s Magnesia Specialties business is reported as a separate segment, which includes its magnesia-based chemicals and dolomitic lime businesses.

Martin Marietta Materials SEC Filing Email Alerts Service


Open the TXI Page at The Online Investor »

Company Name:  Martin Marietta Materials, Inc.
Website:  www.martinmarietta.com
Sector:  Construction Materials & Machinery
Number of ETFs Holding MLM:  95
Total Market Value Held by ETFs:  $5.62B
Total Market Capitalization:  $37.26B
% of Market Cap. Held by ETFs:  15.09%
Company Name:  Texas Industries Inc.
Website:  www.txi.com
Sector:  Construction Materials & Machinery
 

May 1, 2024    10:19 PM Eastern
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