mergers and acquisitions
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
Martin Marietta-Vulcan ruling may not come soon
Reuters reports that the judge presiding over the case of Martin Marietta Materials' hostile bid for Vulcan Materials called the fight a "hall of mirrors." He also said he is unlikely to rule immediately on whether the hostile bid can… Keep Reading
Vulcan Materials’ lawyer says Martin Marietta bid not valid
The Martin Marietta Materials bid for Vulcan Materials Co. shouldn’t be permitted, because it violated contractual confidentiality obligations, a Vulcan Materials lawyer told a judge, according to a report by Bloomberg News. The agency says that in final arguments heard… Keep Reading
Rice Lake acquires Measurement Systems International
Rice Lake Weighing Systems announced the purchase of Measurement Systems International (MSI), a scale equipment manufacturer based in Seattle. MSI has been in business since 1977 with niche technologies such as crane scales, aircraft load monitors and more. Rice Lake… Keep Reading
Martin Marietta, Vulcan court decision coming soon
The Wall Street Journal (WSJ) reports that we should know by as early as next week whether Martin Marietta Materials' $5.5 billion bid for Vulcan Materials could be stopped owing to previous confidentiality agreements between the two companies. Final arguments in Delaware… Keep Reading
Vulcan Materials’ stock takes hit as battle continues
The takeover battle between Vulcan Materials Co. and Martin Marietta Materials Inc. continues. Bloomberg News reports that Vulcan Materials' stock fell below Martin Marietta’s hostile bid price last week, "indicating investors doubt that the $5.5 billion all-stock transaction will succeed."… Keep Reading
Vulcan, Martin Marietta await arguments in takeover trial
Vulcan Materials and Martin Marietta Materials completed four days of a trial in Wilmington, Del., arguing Martin Marietta's hostile takeover attempt of Vulcan. According to reports, Judge Leo Strine Jr. asked lawyers for post-trial briefings before final arguments are held during the week… Keep Reading
