|[January 28, 2014]
Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Proposed Merger of Texas Industries, Inc. with Martin Marietta Materials, Inc.
SAN DIEGO --(Business Wire)--
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating
possible fiduciary duty breaches by the board of directors of Texas
Industries, Inc. (NYSE: TXI) in connection with its proposed merger with
Martin Marietta Materials, Inc. (NYSE: MLM).
If you are a Texas Industries shareholder and would like additional
information concerning your legal rights, or have information regarding
this investigation, please contact lead analyst Jim Baker by email at firstname.lastname@example.org
or by telephone at (619) 230-0063. There is no cost or obligation to you.
Additional Information about the Proposed Transaction
On January 28, 2014, Texas Industries and Martin Marietta announced that
they had entered into a merger agreement under which Martin Marietta
will acquire Texas Industries in an all-stock transaction valued at
approximately $2.7 illion. If the deal goes through, Texas Industries
shareholders will receive 0.70 shares of Martin Marietta stock for each
of their shares of Texas Industries stock. Based on Martin Marietta's
closing price on January 27, 2014, the deal is worth $71.95 per share to
Texas Industries shareholders. Following the close of the deal, which is
expected in the second quarter of this year, Martin Marietta
shareholders will own 69 percent of the combined company, and Texas
Industries' shareholders will have 31 percent.
Johnson & Weaver, a nationally recognized shareholder rights firm, has
commenced this investigation to determine whether Texas Industries'
directors satisfied their duties to shareholders, including whether the
board adequately pursued alternatives to the transaction and whether the
board obtained the best price possible for the Company's common stock.
In particular, the $71.95 per share deal value is well below the
Company's 52-week high. In addition, at least one industry analyst has
established an $80.00 per share target on the stock.
Information about Johnson & Weaver
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California and New York. The firm represents
individual and institutional investors in shareholder derivative and
securities class action lawsuits. For more information about the firm
and its attorneys, please visit http://www.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
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