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Article: Vulcan Materials Company to Acquire Calmat Co. for $31 Per Share; Creates Largest Coast-to-Coast Producer of Quality Construction Materials.
- Article from:
- PR Newswire
- Article date:
- November 16, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BIRMINGHAM, Ala. and LOS ANGELES, Nov. 16 /PRNewswire/ -- Vulcan Materials Company (NYSE: VMC) and CalMat Co. (NYSE: CZM) today announced they have entered into a definitive merger agreement providing for the acquisition of all of the shares of CalMat by Vulcan Materials at a per-share price of $31 in cash. The transaction has a total equity value of $760 million, and Vulcan Materials will assume approximately $130 million in CalMat debt for a total transaction value of $890 million.
This combination further solidifies Vulcan Materials' position as the nation's largest producer of construction aggregates, serving 21 western, midwestern, southwestern and southern ...