Aug. 18, 2014, 8:55 AM
- Martin Marietta (NYSE:MLM) has completed the divestitures required by the DOJ to clear its acquisition of Texas Industries (NYSE:TXI).
- The company sold one quarry in Oklahoma and two rail yards in Texas to Vulcan Materials (NYSE:VMC).
- Vulcan Materials notes that its acquisitions will enhance its ability to serve customers in the greater Dallas market.
Jul. 2, 2014, 7:55 AM
- Martin Marietta (MLM) has completed its acquisition of Texas Industries (TXI), creating a combined company that has a market capitalization of approximately $8.8B. The deal was approved by shareholders of both companies on June 30.
- As reported last week, Martin Marietta has taken the place of U.S. Steel in the S&P 500 as of yesterday's close.
- MLM -0.9% premarket
- TXI -0.7% premarket
Jun. 27, 2014, 5:26 PM
- Martin Marietta (MLM) will take U.S. Steel's (X) place in the S&P 500 following Tuesday's close. U.S. Steel, in turn, will take Martin's spot in the S&P MidCap 400.
- Separately, Depomed (DEPO) will be replacing Texas Industries (TXI) in the S&P SmallCap 600 after Tuesday's close.
- MLM +1.8% AH. DEPO +1.4%.
Jun. 26, 2014, 3:14 PM
- Martin Marietta Materials (MLM -0.8%) will be required to sell an Oklahoma quarry and two Texas rail yards to complete a deal to acquire Texas Industries (TXI -0.9%), according to terms reached with the Justice Department, which had filed suit to block the purchase.
- The settlement will help ensure that aggregate purchasers in parts of the Dallas metro area will continue to benefit from vigorous competition, DoJ says.
- Assuming the settlement is approved by shareholders, MLM would become the largest U.S. producer of construction aggregates crushed stone, gravel and sand.
Jun. 11, 2014, 7:15 AM
- 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.
Apr. 2, 2014, 6:35 PM
- Texas Industries (TXI): EPS of -$0.33 beats by $0.22.
- Revenue of $207.82M (+47.0% Y/Y) beats by $20.36M.
Apr. 2, 2014, 12:10 AM
Apr. 1, 2014, 5:35 PM
Jan. 28, 2014, 7:25 AM
- As flagged, Martin Marietta Materials (MLM) has agreed to acquire Texas Industries (TXI) for $2.7B, including $700M of debt, in an all-stock deal.
- Martin Marietta is offering 0.7 of a share for each Texas Industries share, or the equivalent of $71.95 a share vs Texas' close yesterday of $71.54.
- The companies expect the transaction to be immediately accretive to Martin Marietta's EPS in 2014.
- The combined company will have an enterprise value of $8.5B.
- Texas shares are +2.7% premarket at $73.50.
- Martin Marietta earnings. (PR)
Jan. 27, 2014, 4:41 PM
Jan. 24, 2014, 3:05 PM
- Martin Marietta Materials (MLM -2.9%) is in advanced talks to acquire building materials company Texas Industries (TXI +5.6%), and an agreement could be announced as soon as next week, Bloomberg reports; trading has resumed for both stocks after a brief halt.
- TXI's strength in California and its home state would give MLM an entry into the cement market amid a U.S. construction rebound.
Jan. 8, 2014, 6:58 PM
- Texas Industries (TXI): FQ2 EPS of -$0.62 misses by $0.37.
- Revenue of $208.9M misses by $11.35M. (PR)
Jan. 8, 2014, 12:10 AM
Jan. 7, 2014, 5:35 PM
Dec. 13, 2013, 9:16 AM
Dec. 12, 2013, 5:50 PM