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Martin Marietta taking case to Vulcan Materials shareholders

By |  April 26, 2012

Martin Marietta Materials Inc. is sending a letter to the shareholders of Vulcan Materials Co., soliciting votes for four independent director candidates nominated by Martin Marietta to serve on the Vulcan Materials board. The four candidates would serve as the class up for election at Vulcan Materials’ 2012 annual meeting.

The purpose of Martin Marietta’s solicitation is to elect directors who the company says will bring a fresh, independent perspective into the Vulcan Materials boardroom regarding Martin Marietta’s business combination proposal.

“We firmly believe a combination of Martin Marietta and Vulcan makes a great deal of strategic and financial sense,” says Ward Nye, president and CEO of Martin Marietta. “Vulcan shareholders deserve the opportunity to have their voices heard on this combination, which offers them an upfront premium, the return of a meaningful dividend and the opportunity to participate.”

The full letter, which can be read at, offers continued arguments to Vulcan Materials shareholders on the value of a Martin Marietta and Vulcan Materials merger. Along with the letter, Martin Marietta is sending a voting instruction form it is asking shareholders to sign and return as a clear message that they want the Vulcan Materials board of directors to engage with Martin Marietta.

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