hostile takeover
Martin Marietta to try new approach in pursuit of Vulcan
Martin Marietta Materials Inc. was unsuccessful earlier this year in its hostile takeover attempt of Vulcan Materials Co. But Martin Marietta won't give up trying to purchase the top crushed-stone producing company in the United States. According to the Wall… Keep Reading
Martin Marietta-Vulcan ruling explained further
Bloomberg reports that the Delaware Supreme Court has expanded on a May 31 ruling, concluding in a 42-page explanatory opinion that a lower court properly found Martin Marietta Materials Inc. could not proceed with a hostile takeover of Vulcan Materials… Keep Reading
Will Martin Marietta ever succeed in taking over Vulcan?
It’s the question that’s had the aggregates industry, as well as the financial analysts and law specialists following Martin Marietta Materials Inc. and Vulcan Materials Co., on hold since the two companies entered friendly merger talks back in 2010. Following… Keep Reading
Martin Marietta loses appeal of Vulcan bid ruling
Reuters reports that Martin Marietta Materials Inc. lost its appeal to overturn a court order that halted its $4.5 billion hostile bid and proxy contest for rival Vulcan Materials Co. Delaware's Supreme Court today affirmed a ruling by the state's… Keep Reading
Vulcan Materials CEO sued by company’s founding family
Members of the founding family of Vulcan Materials Co. have sued CEO Don James and directors, The Birmingham News reports. The family says Vulcan Materials erred in not accepting a buyout offer from Martin Marietta Materials. Glenn and William Ireland filed a… Keep Reading
Court denies Martin Marietta’s motion for a stay
Vulcan Materials Co. says a court has denied Martin Marietta Materials' motion for a stay on an order barring it from pursuing a $5.3-billion hostile takeover of Vulcan Materials for the next four months. The Court of Chancery has issued… Keep Reading
Judge rules in Vulcan Materials’ favor; Martin Marietta to appeal
Judge Leo E. Strine Jr. of the Delaware Chancery Court made a decision to block Martin Marietta Materials for a period of four months from prosecuting a proxy contest, making an exchange or tender offer, or otherwise taking steps to… Keep Reading
Vulcan Materials’ letter urges shareholders to reject takeover offer
Vulcan Materials Co. has filed definitive proxy materials with the Securities and Exchange Commission in connection with its 2012 annual meeting of shareholders, to be held on June 1. The company's board of directors has also sent a letter urging… Keep Reading
Martin Marietta taking case to Vulcan Materials shareholders
Martin Marietta Materials Inc. is sending a letter to the shareholders of Vulcan Materials Co., soliciting votes for four independent director candidates nominated by Martin Marietta to serve on the Vulcan Materials board. The four candidates would serve as the… Keep Reading
