Shareholders approve Martin Marietta acquisition of Texas Industries
Martin Marietta Materials and Texas Industries have each received approval from their shareholders for the two companies to merge, investment research site Zacks reports.
The two companies announced the acquisition in January and earned approval from the U.S. Department of Justice (DOJ) last week. The DOJ requires Martin Marietta to divest certain assets, including its North Troy quarry in Oklahoma and two rail yards in Texas.
The acquisition could make Martin Marietta the largest aggregate and heavy building material producer, according to the report. The deal also adds cement to the company’s portfolio.
According to the report, about 98 percent of Martin Marietta shareholders voted for the merger, while 99 percent of Texas Industries shareholders approved.
Now that the acquisition has shareholder approval, the deal is expected to close soon.
From our partners
The new Sandvik Ranger surface drill rig offers renowned drilling efficiency with up to 20% lower fuel consumption
Known to many by their former name, Ranger, Sandvik’s DX series surface…
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- 20-year-old killed at sand and gravel mill922 Views
- Sand portrait highlights aggregate industry's sustainability633 Views
- Vulcan makes several changes to its organizational structure571 Views
- Rocker Bob Seger rips Wisconsin mine plan in new song [Audio]559 Views
- Sand thieves targeting the world's beaches437 Views