Judge Rules in Martin Marietta-Vulcan Case
- Published: Saturday, 05 May 2012 14:55
- Written by Mark Kuhar
May 5, 2012 – Big news just in from Delaware. A judge has blocked Martin Marietta Materials Inc. from making a hostile bid for Vulcan Materials Co., ruling Martin Marietta violated a confidentiality agreement it had with Vulcan. The Birmingham, Ala.-based company has been resisting Martin Marietta's hostile bid since it was launched on Dec. 12. The initial offer was valued at $4.7 billion. The ruling will basically postpone Martin Marietta's bid for Vulcan until next year, because Vulcan shareholders will be selecting new board members at a meeting on June 1. Martin Marietta had advanced its own candidates. Stay tuned for more!