DOJ: Martin Marietta Settlement Related to Bluegrass Deal Calls for Quarry Divestitures

   By Josh Beckerman 
 

Martin Marietta Materials Inc. (MLM) would divest quarries under a proposed antitrust settlement related to its pending purchase of Bluegrass Materials Co., the Justice Department said Wednesday.

The $1.625 billion deal was announced in June. In October, Martin Marietta agreed to certain timelines on closing the transaction, and said it was working closely with the DOJ.

The DOJ said Wednesday that the deal, as originally proposed, would have hurt competitive conditions for some customers in and around Forsyth and north Fulton County, Ga., and in the Washington County, Md., area.

Martin Marietta must divest the lease to its Forsyth quarry in Georgia to CRH PLC (CRH) unit Midsouth Paving Inc. or an alternate acquirer approved by the U.S., the DOJ said. The settlement also calls for the divestiture of Bluegrass's Beaver Creek quarry to an approved buyer.

Private-equity firm Lindsay Goldberg LLC has been an investor in Bluegrass since it was formed in 2010.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

April 25, 2018 21:33 ET (01:33 GMT)

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