Jan 24 Martin Marietta Materials Inc is
in advanced talks to buy construction material supplier Texas
Industries Inc, Bloomberg reported, citing people
familiar with the matter.
Shares of Texas Industries, valued at about $2 billion as of
Thursday's close, rose as much as 13 percent to $77.40 in
No deal value was mentioned, but the report said an
agreement could be announced as early as next week. ()
The deal could be an all-stock transaction, Bloomberg said,
citing a source.
Texas Industries was not immediately available for comment.
Martin Marietta declined comment.
Texas Industries put itself up for sale and was working with
Citigroup to find a buyer, Bloomberg reported last month.
Martin Marietta was trading down 3 percent at $106.02 on the
New York Stock Exchange.