India, Feb. 12 -- Martin Marietta Materials, Inc. (MLM) announced Monday its definitive agreement to acquire 20 active aggregates operations from affiliates of Blue Water Industries LLC for $2.05 billion in cash.
The agreement, entered on Sunday, is for operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia. In addition, the company on Friday completed its previously announced divesture of its South Texas cement and related concrete operations to CRH Americas Materials, Inc., a subsidiary of CRH plc, for $2.1 billion in cash.
The Blue Water deal is expected to close later this year, subject to regulatory approvals and other customary closing conditions. It will be financed with balance sheet cash.
According to the ...