Martin Marietta’s $1.625 Billion Acquisition of Bluegrass Materials

On June 26, 2017, Martin Marietta Materials, Inc. (“Martin Marietta”) and Bluegrass Materials Company (“Bluegrass Materials”) announced that they have entered into a definitive agreement under which Martin Marietta will acquire Bluegrass Materials, the largest privately held, pure‑play aggregates company in the United States, for $1.625 billion in cash. Cravath is representing Martin Marietta in connection with the transaction.

The Cravath team is led by partners Robert I. Townsend III and George F. Schoen and includes associates C. Daniel Haaren, Devon A. Klein and Robert C. Warshaw on M&A matters; partner Andrew W. Needham and associate Ashley N. Elnicki on tax matters; partner Eric W. Hilfers and associates Matthew Cantor and Brian B. Kennedy on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; senior attorney Joyce Law, practice area attorney Brian M. Budnick and associate Christopher J. Washington on real estate matters; and partner Joseph D. Zavaglia and associate Jennifer Uren on financing matters. Evan E. H. Schladow also worked on real estate matters. Summer associates Valor K. Lee and Lavinia Borzi worked on M&A matters and summer associate Kyle Jorstad worked on tax matters.