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 partners Scott A. Barshay and George F. Schoen and associates Andrew C. Elken and Jacquelyn N. Arcati on M&A matters; partner Andrew W. Needham and associate Kara L. Mungovan 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.

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