April 30 Vulcan Materials Co sent a
letter to its shareholders asking them to reject rival Martin
Marietta Materials Inc's bid to acquire it by voting
against Martin Marietta's board nominations in the upcoming
Martin Marietta is trying to nominate four members to
Vulcan's board during a shareholder meeting on June 1.
Martin Marietta launched a hostile bid, valued at roughly $5
billion, for Vulcan in December, with the hope of building the
world's largest producer of sand, gravel and other construction
materials. Vulcan rejected the offer calling it inadequate.
Shares of Vulcan Materials closed at $42.36 on Friday on the
New York Stock Exchange. Martin Marietta shares closed at