Feds circle Martin Marietta, Vulcan market overlaps
- Published: Thursday, 23 February 2012 14:24
- Written by CP Staff
In response to a potential Martin Marietta Materials–Vulcan Materials Co. merger the former company proposed in a late-2011, stock-for-stock exchange offer, the Department of Justice Antitrust Division has requested Vulcan provide ready mixed, aggregate and asphalt delivery detail from certain operations in 15 states. Vulcan noted in a Securities & Exchange Commission (SEC) filing last month it had received from Justice officials a Civil Investigative Demand and request for additional information and documentary.
The department is assessing the scope of Vulcan operations in Alabama, Arkansas, Florida, Georgia, Illinois, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Texas, Virginia and Wisconsin. Officials will examine the amount of ready mixed, aggregates, asphalt transported from facilities in those states to locations ranging from 10 miles to more than 200 miles away. In a related SEC filing, Martin Marietta noted separate requests for information and affirmed, “We are working cooperatively with the DOJ as they conduct their review and don’t believe there are any significant regulatory hurdles to the transaction.”