June 26, 2014 / 4:36 PM / 3 years ago

Martin Marietta must divest as part of Texas Industries deal -DOJ

WASHINGTON, June 26 (Reuters) - Martin Marietta Materials Inc must divest an Oklahoma quarry and two Texas rail yards in order to proceed with its proposed $2.7 billion acquisition of Texas Industries Inc, the U.S. Department of Justice said on Thursday.

Without the divestiture, the proposed acquisition was likely to result in higher prices for purchasers of aggregate in parts of the Dallas metropolitan area, the DOJ said.

Aggregate, a crushed stone produced at quarries or mines, is used in a variety of applications, such as road construction, and for the production of ready-to-mix concrete and asphalt. (Reporting by Ros Krasny; Edited by Susan Heavey)

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