Birmingham’s Vulcan Materials Co. is getting a Texas organization in a $1.2 billion deal reported earlier today.
The concrete and building material maker will pay $74 per share in cash for U.S. Concrete Inc., a provider of totals and ready-mixed concrete. The deal is required to shut in the second half of this current year, subject to conditions.
In procuring the organization, Vulcan Materials accesses activities enormous metro regions in California, Texas, New York and New Jersey. A year ago U.S. Concrete transported 12.6 million tons.
Vulcan Materials Co. Tom Hill called U.S. Concrete “an important Vulcan customer in a number of key areas, and this transaction is a logical and exciting step in our growth strategy as we further bolster our geographic footprint.”
“This is a merger of two corporate cultures that value people, technology, operating disciplines, customer service and the entrepreneurial spirit, and it positions Vulcan to further drive sustainable, long-term shareholder value,” Hill said.
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