Martin Marietta Complies
- Written by Mark Kuhar
May 15, 2012 – Martin Marietta Materials, Inc. announced that in accordance with the decision of the Delaware Court of Chancery on May 4, 2012, the Court of Chancery today issued an order implementing its decision which until Sept. 14, 2012, enjoins Martin Marietta from, among other things, pursuing Martin Marietta's exchange offer for shares of Vulcan Materials Company, prosecuting Martin Marietta's proxy contest at Vulcan's 2012 annual meeting of shareholders, and otherwise taking steps to acquire control of Vulcan shares or assets. Also, as required by the Court of Chancery's order, Martin Marietta is, among other things, terminating its exchange offer and withdrawing its related registration statement, withdrawing its Hart-Scott Rodino Act filing in connection with its exchange offer, and withdrawing its nominees for election at the Vulcan 2012 annual meeting and terminating the related solicitation of proxies. Any "BLUE" proxy cards and "BLUE" voting instruction forms that were previously circulated and have or may be received will not be effective, will not be voted by Martin Marietta at the Vulcan 2012 annual meeting and will be discarded. As previously announced, Martin Marietta is appealing the Court of Chancery's decision to the Delaware Supreme Court.