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US: Deal creates largest national aggregate producer

 |  June 30, 2014

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

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