Eagle Materials unveils separation plan following strategic review

May 30, 2019 8:46 AM ETEagle Materials Inc. (EXP)By: Carl Surran, SA News Editor
  • Eagle Materials (NYSE:EXP) says it plans to separate its heavy materials and light materials businesses into two independent, publicly-traded corporations via a tax-free spinoff.
  • EXP also is actively pursuing alternatives for its oil and gas proppants business with the support of an independent financial advisor.
  • Following the proposal, major shareholder Sachem Head Capital says it will withdraw its board nominations and support EXP's recommendations at the company's 2019 annual meeting.
  • EXP +1.1% pre-market.

Recommended For You

Comments

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.