Vulcan Materials Co. has reached an agreement with the Department of Justice (DOJ) that will allow it to complete its $900 million acquisition of Aggregates USA LLC.
In connection with this agreement, the DOJ has terminated the waiting period applicable to the acquisition under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
The agreement with the DOJ is subject to final approval by the federal court in the District of Columbia, but the parties are free to close their acquisition pending the approval.
As part of the agreement, Vulcan will divest Aggregates USA’s Tennessee assets, as well as a quarry in Abingdon, Va. Blue Water Industries LLC will acquire those assets for $290 million.
The trademark for Blue Water Industries LLC was applied for on Oct. 17, 2017, by Jacksonville, Fla., attorney Richard Vermut.
Vulcan will retain Aggregates USA’s assets in Georgia, Florida and South Carolina.
“We appreciate the Department of Justice’s thorough review and approval, and are pleased with this outcome,” said Vulcan’s Chairman and CEO Tom Hill. “We look forward to closing our acquisition of Aggregates USA LLC, which will give Vulcan access to high quality, strategic assets in key Southeastern U.S. markets.”