Martin Marietta, Texas Industries merge

|About: Martin Marietta Materials ... (MLM)|By:, SA News Editor

Martin Marietta Materials (MLM) and Texas Industries (TXI) have announced their $2.7B merger, creating a combined company valued at $8.5B. The former will acquire all outstanding shares of Texas Industries common stock in a tax-free, stock-for-stock transaction.

Texas Industries shareholders will receive 0.7 Martin Marietta shares for each share of Texas Industries common stock they own at the closing of the deal.