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.
Texas Industries on the Block?
- Written by Mark Kuhar