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
Sandvik Construction’s extensive range of rock tools are world renowned for combining…
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- PHOTOS: Osama bin Laden's family buys famous marble quarry1675 Views
- Four workers survive getting buried alive at sand and gravel plant1161 Views
- Federal judge forces MSHA inspection597 Views
- VIDEO: Worker dangles from excavator hammer 100 feet up433 Views
- VIDEO: Excavator water skiing the best way to cool off, get hurt in a mudhole324 Views