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Martin Marietta earns DOJ approval of $2.7 billion Texas Industries acquisition

Posted By Amanda Bayhi On June 27, 2014 @ 1:40 pm In Aggbeat Online,News | No Comments

martin-marietta-materials-inc-logo [1]Martin Marietta Materials can move forward with its purchase of Texas Industries following a deal with the U.S. Department of Justice (DOJ).

Martin Marietta President and CEO Ward Nye and Texas Industries Executive Vice President and CFO Anne Lloyd announced the acquisition in January [2].

The DOJ has approved the $2.7 billion purchase of the cement company, outlining terms that resolve competition issues, the Dallas Business Journal reports [3].

Terms include a requirement that Martin Marietta sell assets including its North Troy aggregates quarry in Mill Creek, Okla., and two rail yards in Dallas and Frisco, Texas.

A MarketWatch report [4] notes that the two companies will each hold shareholder meetings on Monday. The deal is expected to close shortly after shareholders approve.

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URL to article: http://www.aggman.com/martin-marietta-earns-doj-approval-of-2-7-billion-texas-industries-acquisition/

URLs in this post:

[1] Image: http://www.aggman.com/files/2013/08/martin-marietta-materials-inc-logo.gif

[2] announced the acquisition in January: http://www.aggman.com/martin-marietta-buys-texas-industries/

[3] the Dallas Business Journal reports: http://www.bizjournals.com/dallas/blog/morning_call/2014/06/doj-approves-martin-mariettas-acquisition-of-texas.html

[4] A MarketWatch report: http://www.marketwatch.com/story/martin-marietta-materials-inc-and-texas-industries-inc-confirm-agreement-with-us-department-of-justice-2014-06-27

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