Texas Industries on the Block?
- Published: Monday, 16 December 2013 12:36
- Written by Mark Kuhar
December 17, 2013 - The owners of Texas Industries Inc. are rumored to be exploring a sale according to a report from the Dallas Morning News. The company is working with Citigroup Inc. to find a buyer, sources said, asking not to be identified because the information is private. Texas Industries, whose market value was reportedly $1.68 billion, may draw interest from competitors including Vulcan Materials Co., a source said.Southeastern Asset Management Inc. and NNS Holding, the two largest shareholders, have been looking to sell their stakes for some time, though they may struggle to get a price they deem sufficient, according to the report. The two investors combined own more than 51 percent of the company, according to data compiled by Bloomberg.