India, June 29 -- Martin Marietta Materials, Inc. (MLM) announced Monday that it has entered into a definitive agreement to combine with Lhoist North America, Inc., a subsidiary of Lhoist Group, for $13.5 billion in cash and shares of Martin Marietta common stock.
Lhoist North America is a leading producer of hi-calcium lime, dolomitic lime and industrial mineral products, serving a diversified set of end markets such as domestic steel manufacturing, infrastructure and heavy nonresidential construction, environmental and agricultural applications. The combination of Martin Marietta and Lhoist NA will position Martin Marietta as the clear leader in lime and specialty mineral products. It will also deepen the Company's presence in Texas and ...