Martin Marietta-Texas Industries deal approved with conditions

By |  June 27, 2014

The U.S. Department of Justice approved Martin Marietta Materials Inc.’s $2.7 billion purchase of Texas Industries Inc., Bloomberg reports. Part of the approval is a requirement that Martin Marietta sell a few assets.

According to Bloomberg, Martin Marietta will sell an Oklahoma quarry and Texas rail yards in order to maintain market competition for crushed stone, sand and gravel.

“Without the divestiture obtained by the antitrust division, customers would have likely faced higher prices as a result of this acquisition,” said Bill Baer, head of the department’s antitrust division, in a statement.

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