Federal regulators have reportedly cleared the way for a merger that would create the nation’s largest aggregate producer.
According to reports, Martin Marietta can acquire Texas Industries in a $2.7 billion deal, though will be required to divest certain assets. Martin will sell an aggregate quarry and two rail yards, according to reports.
The United State and the State of Texas had filed a lawsuit to block the merger, which was first announced in January. But the parties have reportedly settled the matter following Martin’s agreement to sell the three properties.
According to the complaint, “the proposed acquisition would eliminate real and potential head-to-head competition between Martin Marietta and Texas Industries and price and service in supplying aggregate in the Dallas, Texas area.”
The final judgment, which announced the settlement deal, was filed on June 26.
Full content: Courthouse News Service
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile Faces Class-Action Lawsuit Over Sprint Merger After Appeal Denied
May 16, 2024 by
CPI
Google Faces Backlash Over Introduction of AI-Generated Summaries in Searches
May 16, 2024 by
CPI
CMA Launches Phase 2 Probe into AlphaTheta’s Acquisition of Serato
May 16, 2024 by
CPI
NFL Executive Escapes Testifying in High-Stakes Trial Over Televised Games
May 16, 2024 by
CPI
EU Consumers Lodge Complaint Against Chinese Retailer Temu Over Content Rules Breach
May 16, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI