Martin Marietta’s $2.7 Billion Acquisition of Texas Industries

On January 28, 2014, Martin Marietta Materials, Inc. and Texas Industries, Inc. announced that the Boards of Directors of both companies have unanimously approved a definitive merger agreement under which Martin Marietta will acquire all of the outstanding shares of Texas Industries common stock in a tax‑free, stock‑for‑stock transaction valued at US$2.7 billion. Cravath represented Martin Marietta in connection with this transaction.

The Cravath team included partner George F. Schoen and associate Jacquelyn N. Arcati on M&A matters; partner Andrew W. Needham on tax matters; partner Eric W. Hilfers and associate Jarrett R. Hoffman on executive compensation and benefits matters; partner Matthew Morreale and senior attorney Annmarie M. Terraciano on environmental matters; and practice area attorney Joyce Law on real estate matters. Debra M. Aboodi also worked on M&A matters; Sara L. Lykken also worked on tax matters; and Julia L. Onorato also worked on executive compensation and benefits matters.