Martin Marietta loses appeal of Vulcan bid ruling

DOVER, Del. Thu May 31, 2012 12:01pm EDT

DOVER, Del. May 31 (Reuters) - Martin Marietta Materials Inc lost its appeal on Thursday to overturn a court ruling halting its $4.5 billion hostile bid and proxy contest for rival Vulcan Materials Inc.

Delaware's Supreme Court affirmed a ruling by the state's Court of Chancery, which prevented Martin Marietta from seeking to elect its four nominees to Vulcan's board at Friday's meeting of Vulcan shareholders.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.