Martin Marietta launches $4.7bn bid for Vulcan

RALEIGH, N.C. (AP) -- Martin Marietta Materials has launched a hostile takeover bid for rival construction materials company Vulcan Materials with an offer to buy the company for $4.74 billion in stock....

By Alan Brochstein, CFA: The hostile bid by Martin Marietta Materials (MLM) for larger Vulcan Materials (

Martin Marietta Materials Inc launched a hostile $4.8 billion all-stock offer to buy larger rival Vulcan Materials Co in a bid to build the world's largest producer of sand, gravel and other construction ...

Reuters - Construction aggregates maker Martin Marietta Materials Inc launched a hostile $4.8 billion all-stock offer to buy larger rival Vulcan Materials Co in a bid to build a global leader in an industry that has been battered by the housing-market downturn.

(Reuters) - Martin Marietta Materials Inc , which produces construction aggregates like crushed stone, sand and gravel, made an unsolicited $5 billion offer to buy rival Vulcan Materials Co in a bid to create the global leader in the industry.

By David White:Martin Marietta Materials Corp. (MLM) was trying to buy out Vulcan Materials Company (VMC). In late 2011 it made a hostile takeover bid of $4.8B for VMC ($36.69 per share). This was rejected by VMC.

The Vulcan Materials board has reiterated arguments made in court filings that the Martin Marietta Materials tender offer undervalues the company and comes at a low point for the cyclical construction business.