Cravath Forges Martin Marietta's $2.7B Deal For Cement Co.

Law360, New York (January 28, 2014, 1:50 PM EST) -- Martin Marietta Materials Inc. announced Tuesday that it will acquire cement maker Texas Industries Inc. in a stock-for-stock deal worth about $2.7 billion, a combination that will bolster Martin Marietta’s cement operations with an expanded distribution network throughout North America.

Under the terms of the merger agreement, Texas Industries shareholders will receive 0.7 Martin Marietta shares for each share of Texas Industries common stock they own at closing, Martin Marietta said in a statement. Based on Martin Marietta’s closing stock price on Monday, this consideration would...
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