Martin Marietta, Vulcan Won't Get Quick Ruling On Hostile Bid

Law360, Wilmington (April 09, 2012, 9:41 PM ET) -- A Delaware judge heard closing arguments Monday in a suit over Martin Marietta Materials Inc.'s alleged misuse of confidential information in its $5.5 billion hostile bid for rival Vulcan Materials Co., but made no promises about when he will render a decision.

At a hearing in Delaware Chancery Court, Chancellor Leo E. Strine riddled attorneys from both sides with pointed questions about their respective interpretations of a confidentiality agreement from prior friendly merger talks between the rival aggregates producers. After an eight-hour hearing, however, the judge...
To view the full article, register now.