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Martin Marietta Makes Hostile Bid for Vulcan

martin-marietta

vulcanDecember 12, 2011 – There is major M&A News in the aggregates industry today. Rock Products has learned that Martin Marietta Materials kicked off a hostile bid to acquire Vulcan Materials, beginning an exchange offer worth more than $4.6 billion for its rival in an effort to combine the nation two largest producers of crushed stone and gravel. According to wire reports, Martin Marietta is offering 0.5 of a share for each Vulcan share. As of Friday’s closing price, that bid was worth $36.69 a share, a 9 percent premium to Vulcan’s stock price that day. Martin Marietta also intends to name five nominees to Vulcan’s board and began a lawsuit in Delaware’s court of chancery to add pressure to its target.

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Is Delay Back?

HighwayBillDecember 6, 2011 – It makes you wonder if Tom Delay is back in the House of Representatives. House Transportation and Infrastructure Committee Chairman John Mica (R-Fla.) announced yet another "delay" in moving a bill for long-term surface transportation funding.

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The Cure for Congestion

tti-headerNovember 29, 2011 – The Texas Transportation Institute (TTI), a Texas A&M University System agency, released its 2011 Congested Corridors Report, an effort to identify reliability problems at specific stretches of highway responsible for significant traffic congestion at different times and different days. The report describes congestion problems in 328 seriously congested corridors over a variety of times — all day, morning and evening peaks, midday, and weekends.

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USGS Reports Preliminary Third-Quarter Production

usgsNovember 20, 2011 – According to Scott F. Sibley, chief, USGS Mineral Commodities Section, preliminary numbers indicate that crushed stone production in the third quarter of 2011 increased 14 percent over the second quarter of 2011; although it decreased 2 percent in the third quarter of 2011 over the third quarter of 2010.

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Permit Me to Point Something Out

housingNovember 18, 2011 – Included in the the National Association of Home Builders (NAHB) monthly report on new housing starts for October is an interesting statistic: single-family building permits posted a measurable gain of 5.1 percent to 434,000 units, their fastest pace since December of 2010.

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