Martin Marietta completes Texas Industries acquisition

theflyonthewall.com

Martin Marietta (MLM) announced that it has completed its acquisition of Texas Industries (TXI). The transaction enhances Martin Marietta’s position as an aggregates-led, low cost operator. The acquisition provides complementary, assets in cement and ready mix concrete, augmented by the company’s long-haul transportation network. The transaction was overwhelmingly approved by shareholders of both companies at their respective special meetings on June 30. Based on the closing price of Martin Marietta stock on July 1, the combined company has a market capitalization of approximately $8.8B.

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